This seems a bit odd - can anyone shed light on this?
Dixons have no trades showing on DXNS has the epic changed or something?
Cheers for any input
:>)

Duplicate!

Acquisition of a 22% minority interest in PIXmania


http://www.moneyam.com/action/news/showArticle?id=4425058

Dixons Retail adds 1.7 percent 's second biggest electricals retailer says it will take full ownership of online business Pixmania after agreeing to buy out the minority 22 percent interest of its founders for 10 million euros ($12.3 million).

"We view this as a positive step as management needs to address the weak performance of Pixmania and its Southern European businesses, though this will take time given the impact austerity measures are likely to have on consumer discretionary spending going forward," Seymour Pierce says in a note.

Dixons Retail (Other OTC: DSITF.PK - news) has soared by 68% this year to 16.47p, after slumping massively from pre-crash levels, and is now looking like a recovery story that's only set to get better. The crash was due to many reasons, but mainly it was a shift in our shopping practices away from slogging around the streets to browsing online retailers from the comfort of our homes.

Dixons, like others, was slow to change and embrace modern multi-channel retailing, and was far too inefficient in its business. But annual results in June showed strong signs that the firm's turnaround strategy is meeting with success, as it said its first priority is to "Drive a successful and sustainable business model in a multi-channel world". Sales and profits are creeping back, debt is being slashed, and we're seeing more internet-savvy efficiency.

The shares are now of a forward price-to-earnings (P/E) ratio of around 12 for April 2013, falling to 8 the following year. Dixons could well be back into sustainable profit territory again.

The consumer will come under the spotlight on Thursday, with updates from electrical retailer Dixons Retail (DXNS) and supermarket Morrison's (MRW).

Recent news: At the time of its preliminary results in June, Dixons said that the first quarter had got off to a good start, broadly following the trends seen in the fourth quarter.

Analysts' expectations: Philip Dorgan, analyst at Panmure Gordon is looking for first-quarter group like-for-like sales growth to come in at 4%, which compares with fourth-quarter growth of 5%. He believes that the repayment of the bonds in November remains on track.

"The UK has benefited from a number of tailwinds, notably the poor weather and the number of sporting events, but we would still view this as an encouraging performance," he says.

He adds: "Dixons is becoming much less of a binary situation and more of a compelling recovery story. We don't anticipate major changes to forecasts, but we expect the statement to encourage the view that Dixons can continue to be one of the few winners in its space and can gradually create a strong niche against the pure play online operators."

Valuation: The stock is trading on a 2013 financial year PE ratio of between 12 and 13 times.

Dixons Retail, which reports its first-quarter trading figures on Thursday, is thought to have benefited from the Olympic halo effect from sales of wide-screen televisions.

Up on anticipation?

Plenty of expectation in the price.

Philip Dorgan, analyst at Panmure Gordon & Co, thinks the electrical retailer Dixons is a "compelling recovery story". When the purveyor of TVs and washing machines updates the market at its AGM, Mr Dorgan expects it to continue to be the strongest multichannel operator, and maintains a buy recommendation with a target price of 28p.

Interim Management Statement

FIRST QUARTER TRADING STATEMENT

ENCOURAGING START TO THE YEAR

Dixons Retail plc, Europe's leading specialist multi-channel electrical retailer and services company, today announces trading for the 12 weeks ended 21 July 2012.

· Encouraging start to the year with total sales up 2% and like for like sales up 5% in the first quarter.
· Good performance in UK & Ireland with like for like sales up 7%.
· Northern Europe continues to trade strongly as Elkjøp outperforms in its markets.
· Italian and Greek businesses taking appropriate actions in continued difficult economic environments.
· Continued strong growth in multi-channel:
· Group multi-channel sales up 39% in the first quarter.
· Multi-channel sales up 48% in UK & Ireland.
· Trading at PIXmania continued to be challenging. On 10 August 2012 the Group acquired the 22% interest in PIXmania owned by the Rosenblum family giving the Group day to day control.
· Group gross margins down 0.3% in the first quarter.

Dixons sales improve
StockMarketWire.com
Electrical retailer Dixons Retail said it has made an encouraging start to the year with total sales up 2% and like for like sales up 5% in Q1.

The group reported a good performance in UK & Ireland with like for like sales up 7%.

Northern Europe continues to trade strongly as Elkjøp outperforms in its markets.

Italian and Greek businesses are taking appropriate actions in continued difficult economic environments.

Group multi-channel sales were up 39% in the first quarter, with multi-channel sales up 48% in UK & Ireland.

Trading at PIXmania continued to be challenging. On 10th August 2012 the Group acquired the 22% interest in PIXmania owned by the Rosenblum family giving the Group day to day control.

Group gross margins were down 0.3% in the first quarter.

Sebastian James, CEO, commented: "While it is still early in our financial year, I am encouraged by the start we have made across the Group. We have had a real boost from a busy summer of events in the UK and our Northern European operations continue to go from strength to strength. I am pleased that we now have day to day control of PIXmania allowing us to take the decisive actions necessary to improve its performance. August has proven to be quieter across the retail sector in some of our markets and we continue to be cautious about the outlook. However, we are well placed for the back to school period and look forward to the launch of Windows 8 and the exciting new products that we will have available for customers for the Christmas period."

Dixons Retail will announce interim results for the 24 weeks ended 13th October 2012 on 29th November 2012.

Dixons Retail (Other OTC: DSITF.PK - news) : Seymour Pierce upgrades to buy; Nomura ups target from 16p to 20p, neutral rating kept

Charts are indicating strong buy now.

Champing at the bit - about to have a go up to 24p imo.

The Tempus column in The Times has hailed PC World and Currys owner Dixons Retail as one of the 'last men standing' in its retail sub-sector and celebrates its resilience in spite of troubles on the High Street.

Trading in Britain and Northern Europe is "not as bad as it might have been", the paper says, but sales in Southern Europe have faltered. "As the high street contracts, it is in the interests of suppliers to keep the survivors going and this will be reflected in the terms they are offered," the column said.

While the columns says that the shares, trading at around 16 times prospective earnings, are not a "raging 'buy'", at least some of the firm's problems are being tackled.

Sold my dixons holding

wel done dc

Thanks Bb

This must be you then DC :-)

Schroders 14% - 13%

No not me selling such a low volume. lol