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IRUK Top500 Strategy and Innovation Report: 2018

IRUK Top500 Strategy and Innovation Report: 2018

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Multichannel grows while online-only sales fall at Dixons Retail

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Some 14% of sales at the Dixons Retail group now take place online, the company said today. In a trading statement, the retailer, which owns brands including Currys, PC World and Dixons, said its multichannel sales were continuing to grow, but that sales were falling at its online-only businesses.

Today’s statement reported total group sales down by 1% and like-for-like sales down by 7% in the 12 weeks to July 23. In the UK total sales were down by 9% and like-for-like by 10%. Its pureplay ecommerce division, made up of Dixons.co.uk and PIXmania, saw total sales fall by 11% while like-for-likes were down by 16%. Only the Nordics delivered consistent growth, with total sales up by 15% - 5% in local currency – and like-for-like sales growth of 4%.

Chief executive John Browett said the performance was in line with expectations. “While underlying market conditions have remained challenging this year we have continued to trade ahead of our markets as customers respond to our improving customer offer,” he said. “I am particularly pleased with the significant and ongoing improvements we have seen in customer satisfaction measures in the UK which demonstrate the success of our renewal and transformation plan, as well as our continued strong trading in the Nordics.”

In other highlights the company said it was planning to invest £100m during the year to invest in stores with most potential. So far the company has refitted 375 stores across its portfolio, including 71 megastores of which 32 are in the UK.

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