DSG (Dixons, Currys PC World), Argos & +1 report Christmas results - Down 10% & 7.5%

Conflict

Also Homebase with 10.2% - but not enough room on title

Bad times as everyone expected for DSG and Argos -

http://news.bbc.co.uk/1/hi/business/7830002.stm

DSG International, which owns Currys and PC World, said like-for-like sales - which ignore new stores - had dropped 10% in the three months to 10 January.
Home Retail Group said like-for-like sales at its Argos chain had fallen 7.5% in the 18 weeks to 3 January.
DIY chain Homebase, which is also owned by Home Retail Group, saw like-for-like sales in the same period drop 10.2%.

adr0ck

results @ HMV are up

http://news.bbc.co.uk/1/hi/business/7829339.stm

ps2659

adr0ck wrote: »

results @ HMV are up

http://news.bbc.co.uk/1/hi/business/7829339.stm

Green shoots.?

itsnever2lateisit?

ps2659 wrote: »

Green shoots.?

More likely taking up the slack left by Woolies/Zavvi, who didnt have latest releases in December.

mitchaa

These companies are still making profits, just not as much as they were last year.

To me any profit in this volatile market is a bonus so how can the media stick a doom and gloom spin on it

These shops are a million miles away from administration. Profits down, great. It's not a news story !!!!!!:rolleyes:

Generali

mitchaa wrote: »

These companies are still making profits, just not as much as they were last year.

To me any profit in this volatile market is a bonus so how can the media stick a doom and gloom spin on it

These shops are a million miles away from administration. Profits down, great. It's not a news story !!!!!!:rolleyes:

Profits down at DSG isn't a story.

Profits down across virtually every listed retailer plus plenty more going bust is a very big story.

lostinrates

mitchaa wrote: »

These companies are still making profits, just not as much as they were last year.

To me any profit in this volatile market is a bonus so how can the media stick a doom and gloom spin on it

These shops are a million miles away from administration. Profits down, great. It's not a news story !!!!!!:rolleyes:

Mitchaa, I agree with this. Furthermore, I think gtting used to lower profits and gains on a business level is the best hope for the future.

WTF?_2

Generali wrote: »

Profits down at DSG isn't a story.

Profits down across virtually every listed retailer plus plenty more going bust is a very big story.

We had an economy with an disproportionately large retail element built on people borrowing money to spend on imported consumer goods.

Only one way that story was going to end, the remarkable thing is that it lasted so long.

Conflict

Now for some REAL good news unlike the HMV news which is largely rubbish as itsnever2lateisit? pointed out .

PRIMARK - UP 18%! this of course before the linking to UK based sweatshops, etc.

http://ftalphaville.ft.com/blog/2009/01/15/51182/trading-down-to-primark/

DCFC79

Sainsburys had its best ever christmas performance with sales rising 4.5% in the past three months.

Conflict

DCFC79 wrote: »

Sainsburys had its best ever christmas performance with sales rising 4.5% in the past three months.

Think all the supermarkets did pretty well, its the high street what seems to have been hit hard and as such its good to see Primark bucking the trend in dramatic fashion.