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Christmas Cheer for Dixons Retail

Sam Robson
January 17, 2013

LONDON -- This morning, Dixons (LSE: DXNS) released a trading update for the 12 weeks ending Jan. 5, 2013, with the news that the company saw like-for-like underlying sales increase 7%.

The specialist multichannel electrical retailer and services company has gained market share since the demise of Comet, whose administrators have been holding clearance sales. But consumers flocked to Dixons over the Christmas period despite the bargains on offer elsewhere, with tablet sales in particular described as "phenomenal" by management.

As the company is the market leader in Europe, it wasn't a surprise to see the key performer being Northern Europe (Nordics and Central Europe), which reported like-for-like growth of 11%. The U.K. and Ireland wasn't too far behind, with an encouraging 8% leap in LFL growth.

Southern Europe -- businesses in Italy, Turkey, and Greece -- saw drop-offs of 8% in LFL growth co