Dixons reports first quarter sales slump
Pc World and Currys owner Dixons has posted a slump in sales in the first quarter of its financial year.
The group reported a 10% fall in same-store sales during the 12 weeks to July 23 in the UK and Ireland, where it has 640 stores, and a 7% drop across the whole group.
Dixons Retail, which saw a 6% drop in profits in the year up to April, said that the quarter compared to particularly strong trading in the same period last year as a result of the World Cup and the launch of Apple's iPad.
But the figures will do nothing to alleviate concerns over the state of high street trading as retailers, ranging from interior designer Habitat to fashion chain Jane Norman, have fallen into administration.
Dixons has been forced to reduce the size of its estate by cutting its UK portfolio to 450 stores. It is also refitting stores, with 375 completed.