Dixons Retail has revealed that its performance improved somewhat over recent months, with the company narrowing its pre-tax losses.
The firm - which owns big-name brands Currys and PC World - revealed in a trading statement that losses in the 24 weeks to October 15 totalled £3.9m, down from £10.7m over the same period in 2010. However, group losses climbed to £25.3m as key international markets floundered.
“In what remains a challenging environment, the pace and impact of improvements in our operating model is driving outperformance versus our competitors and market share gains,” said chief executive John Browett. “We remain cautious about the economic outlook for the second half of the year.”
Mr Browett added that customers could expect to see “fantastic festive deals” and an “exciting range” of products during the impending Christmas period, and insisted Dixons remained committed to enhancing the consumer experience and providing a unique offering from its rivals.
The announcement came just weeks after Carphone Warehouse confirmed it was to close its Best Buy Europe stores, after growth failed to match expectations in the face of lingering economic weakness.
