Trading Statement
Dixons Retail plc, Europe's leading specialist multi-channel electrical retailer and services company, today announces trading for the 12 weeks ended 5 January 2013.
· A strong performance over the Christmas period with like for like sales in key businesses up 7% as we continued to gain market share:
· UK & Ireland traded well with like for like sales up 8%;
· Continued strong performance in Northern Europe with like for like sales up 11%;
· Single-channel business PIXmania had a poor period impacted by the ongoing restructuring of the business, compounded by significant negative trends in its main markets.
· Progress continues on the restructuring plan to improve the financial position of the business.
· Group gross margins down 0.5%, primarily driven by product mix.
· Group Full year underlying profit before tax expected to be in line with market expectations of £75 million to £85 million.