Dixons Retail claims "solid performance" for the 12 weeks ending 7th January 2012, despite total group sales declining by -5% Y-o-Y for the period.
UK & Ireland sales for the Currys and PC World owner (excluding new store openings) fall by -7% Y-o-Y. The retailer says the 2011 VAT increase "distorted" Christmas period sales totals, as like-for-like sales were up 2% in the 1-14th January 2012 period and up 23% during 4-14 January 2012.
The retailer says stores having KNOWHOW installation and support services also show "strong sales."
Sales in S. Europe (Italy, Greece, Turkey) fare worse by dropping by -10% Y-o-Y due to worsening economic environments, while N. Europe (Nordics and C. Europe) sees 3% growth. Dixons runs Elkjop in the Nordics, UniEuro in Italy and Kotsovolos in Greece.
Online sales are growing in importance for the retailer-- online now represents 19% of total group sales. Group CE John Browett comments "Consumer confidence in many of our markets remains fragile and we will maintain a cautious approach to the outlook for the year ahead..."