Saturday, February 16, 2019

Dixons posts first profit in six years


Electrical retailer Dixons has posted an underlying profit for the first time in six years as group sales rose 7 per cent for the six months to 31 October 2013.

Profits shot up to £31.4m as it shed its troubled Italian and Turkish businesses and online electrical store PIXmania which created a “profit-drag.”

Sebastian James, Chief Executive said streamlining the business was good news for the company. “We can really focus on new and exciting opportunities to do more for our customers and suppliers, and on working more closely to drive tangible benefits from being part of our Group,” he said.

The retailer has undergone in-store refurbishments and a trial of electronic shelf-edge labelling as it shifts its focus to a multi-channel market.

Like-for-like sales increased 6 per cent compared to a 13 per cent rise for the full year last year.

David Alexander, retail consultant at Conlumino, said the signs were positive for the long-term success of the business.

“Customer service has been another key element in Dixon‘s strategy to maximise the advantages of its multichannel credentials, in the face of intense competition from online retailers.

“With interactive displays and ‘know-how advisors‘ on hand, it is setting high standards for customer engagement and the ability of its staff to upsell products has even convinced key suppliers to offer Dixons exclusive products.”