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02 Sep 2009
Comments:1
DSGi has earned slightly better revenues than expected for the quarter ended 22 August, reporting a six per cent fall in revenue overall and some areas of growth.
John Browett, chief executive at DSGi, said group revenue was slightly ahead of expectations, with “encouraging” results given the challenging economic environment.
“We remain cautious about the economic outlook. However, we are making good progress on our renewal and transformation plan,” Browett said.
Further reading
The group saw shrinkage of 17 per cent in its UK computing division (PC World and reseller arm) and 13 per cent in its UK and Ireland electrical business (Currys and Currys Digital).
B2B sales through PC World saw “significantly lower” sales but in line with expectations.
The UK store refit programme is also on track, with 108 DSGi stores completed and another 60 to 80, including five more megastores, scheduled by the end of 2009.
However, the group also achieved 13 per cent growth in its e-commerce sales and did well in the Nordic countries, recording 16 per cent sales growth. Its southern and central Europe arm saw sales fall eight per cent.
“Our Nordic business is performing strongly, the UK transformation continues on plan with the refurbished stores continuing to outperform and the Italian turnaround is starting to deliver,” Browett said.
Gross margins across the entire group were up 0.7 per cent year on year.
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No surprise to see Equanet Wielding the axe again.....
I'm not surprised to hear that Equanet once again go for a change in their sales leadership after another drop in sales.
News that John Stevens has "left the busines" cannot come as a surpirse based on the merry go round that we've seen over the last 2 years.........when will they learn that you cannot keep changing the stratey and leadership and expect a positive change in moral, productivity and profitability............maybe we'll see the introduction of more "Interim" managers again......expect more job cuts!
Posted by Craig Riley | 03 Sep 2009
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