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Dixons Retail puts multichannel at the top of its priority list

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A slimmed-down Dixons Retail today put multichannel at the top of its priority list as it reported fast growth in profits.

Dixons Retail said in half-year results that it had successfully streamlined the group over the past year, selling pure play PIXmania as well as Italian and Turkish operations.

Achieving the “substantial” streamlining of the group, said chief executive Sebastian James, put it in a good position to expand.

“Quite apart from removing a significant profit-drag on the business, these changes mean that we can really focus on new and exciting opportunities to do more for our customers and suppliers,” he said. He added: “We have had a great first half and our stores have never looked better – or had better offers for customers.”

Top of its strategic priority list was multichannel.

“We believe we have created a sustainable business model for a multichannel world by focusing on what our customers, and suppliers, want,” the electronics retailer, which trades in the UK as Currys and PC World, said as it reported first-half results. “Customers tell us that as well as great value, they want advice on technology and to experience products to ensure they choose the right one.”

Key wins include 95% customer recommendations, and the roll out of the KNOWHOW service brand into the Nordics. The company said that in the UK, where it saw total sales rise by 7% to £1.8bn, its brands had won 23% market share. The company is also trialling in-store innovations such as heat map cameras “to understand how customers use the store and interact with product displays.”

Online customer journeys on the Currys and PC World websites have been designed to complement the retailer’s physical stores, while the extended online range is now available to buy in-store.

Revenue from continuing operations came in at £3.4bn, while pre-tax profits came in at £22.7m in the six months to October 31, up from £0.6m at the same time last year.

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