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UK electronics retailer DSG reports fall in sales

UK electronics retailer DSG reports fall in sales

Shares in DSG International PLC, Britain's largest electronics retailer, fell more than 7 percent Thursday after the company said sales fell during the holiday period as customers waited for discounts to kick in.
In a trading statement, the company said same-store sales in the twelve weeks leading up to Jan. 10 had fallen by 10 percent.
"The sales pattern through the period was as we anticipated with customers waiting for the post Christmas sales to purchase discretionary products, particularly televisions and laptops," said John Browett, the company's chief executive.
He said the company, owner of chains such as PC World and Currys, expected conditions in 2009 to be challenging. It anticipates cutting costs by 20 million pounds ($30 million) in the current financial year, and will remain focused on managing margins and reducing stock.
Shares in the company fell by 7.5 percent to 18.5 pence in morning trading on the London Stock Exchange.


Updated : 2021-04-15 17:00 GMT+08:00