SALES SLUMP FOR DIXONS

Profits of £85.3million may not look bad on paper – but for electrical retailer Dixons, they actually represent a six per cent slump from the £90.9million gained in the previous year.

The company, which operates in Ireland under both the Currys and PC World brands, said that its total underlying group sales fell by two per cent largely due to weak consumer spending on discretionary items.

Challenging times

The economic backdrop has been deemed “challenging” by Dixons, particularly as last year had such notable events by comparison – including the World Cup and the launch of the iPad. It is believed that customers throughout Europe are cutting back on the purchase of electrical goods while household budgets are squeezed by austerity measures.

Nevertheless, Dixons remains confident that it is well prepared for the environment and hopes to emerge from the recession ahead of the competition.

Overall, its total sales in the UK and Ireland were down five per cent to £3.8billion with like-for-like sales down three per cent across the year. It was an encouraging performance given the weak market overall with sales of white goods holding well, and being supported by strong sales of the iPad and new iPad II.

Electric Avenue

Few of us have the cash to splash on big ticket electrical items during the current economic climate – however, if you need to make a purchase then there are several voucher codes available to help you make savings.

For example, 5hop5.ie is currently carrying voucher codes for Electrical Discount UK with £20 off when you spend between £801 and £1,000; while Play.com has a summer sale with up to 70 per cent off.