Electronics chain Dixons Retail has revealed that sales declined over the all-important Christmas period, adding to fears about weakness in consumer spending.
The company’s latest trading update stated that group like-for-like sales were down five per cent in the 12 weeks ending on January 7. Online sales came to account for 19 per cent of overall group sales, up by 20 per cent year-on-year.
Trading at Dixons’ UK and Ireland stores open for a year or more were down seven per cent. However, sales of iPads and Beats by Dre headphones rose by 200 per cent on the same period in 2010, with the chain selling a Kindle every three seconds.
“We think this Christmas has proven that we can actually trade well. Consumer confidence in many of our markets remains fragile and we will maintain a cautious approach to the outlook for the year ahead,” said chief executive John Browett. “We have set our business accordingly and will continue with our self-help strategy.”
HMV, which is currently adjusting its focus towards digital products, announced last week that group sales had fallen further over the festive period.
