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

GlennTheBaker

Conflict wrote: »

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.

I've never known anyone describe Primark's stuff as 'dramatic fashion' before

piggeh

Last year's figures include half a year of continuing good fortune, it was only half way through that the credit crunch really started to take it's toll. So even if they make a profit, it really depends what their outlook is for 2009 when the whole year will have reduced sales.

DSGi's interim report in December had them making a loss and net debts of £140m. They have drawdown credit facilities available of £300m and in the previous year had £70m in net funds. That's quite a change in their position (unless I read it wrong). In their statement today they dont even try to forecast any kind of profit or loss, which to me is worrying.

DSGi might put a brave face on it but if they only have £300m credit to draw on, they wont last long. Will be interesting when we see Q4 figures being released start of Feb, I think there'll be some massive losses announced next month (including my own employer fwiw - they have tripled their projected loss for this year in the space of 3 months!)