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17/11/2004
Dixons and Sainsbury's interims reveal lower sales
High street and shopping mall retail chain Dixons Group, the UK's largest consumer electronics and equipment retailer, has warned that sales and profits have waned in the last quarter.
The group reported that revenue take at UK stores had slowed slightly. The retail chain blamed stiffer competition from both on-line retailers and stores that were selling competing products.
Like-for-like sales in the 28-week period to November 13 revealed a 1% decline in Dixons sales. The Dixons group's strongest performer was Currys which saw a 9% rise in sales, while Dixons and PC World reported 3% sales gains.
Dixons chief executive John Clare said that the performance was "satisfactory" but he was "cautious" about the outlook for consumer expenditure for the remainder of the year.
Elsewhere, supermarket chain Sainsbury's reported its first-ever net loss. In the half-year interim figures published today Sainsbury's reported a pre-tax loss of £39 million. In the preceding year, Sainsbury's had reported pre-tax profits of £323 million.
While total sales rose by 3.5% to reach £8.35 billion, on a like-for-like basis, excluding petrol, sales dipped by 0.9%.
Commenting on the report, Sainsbury's chief executive officer Justin King said: "We are clear on the actions we need to take to make Sainsbury's great again. We are now beginning the implementation of the plans arising from the Business Review to rebuild a sustainable sales led recovery."
Distribution problems have in part been blamed for Sainsbury's recent performance, but the reopening of a depot is expected to help both the availability and delivery of goods to the shelves.
Sainsbury's is pushing ahead with plans to employ an additional 3,000 staff and has adopted a marketing strategy that relies heavily on own-brand product lines.
(SP/GMCG)
The group reported that revenue take at UK stores had slowed slightly. The retail chain blamed stiffer competition from both on-line retailers and stores that were selling competing products.
Like-for-like sales in the 28-week period to November 13 revealed a 1% decline in Dixons sales. The Dixons group's strongest performer was Currys which saw a 9% rise in sales, while Dixons and PC World reported 3% sales gains.
Dixons chief executive John Clare said that the performance was "satisfactory" but he was "cautious" about the outlook for consumer expenditure for the remainder of the year.
Elsewhere, supermarket chain Sainsbury's reported its first-ever net loss. In the half-year interim figures published today Sainsbury's reported a pre-tax loss of £39 million. In the preceding year, Sainsbury's had reported pre-tax profits of £323 million.
While total sales rose by 3.5% to reach £8.35 billion, on a like-for-like basis, excluding petrol, sales dipped by 0.9%.
Commenting on the report, Sainsbury's chief executive officer Justin King said: "We are clear on the actions we need to take to make Sainsbury's great again. We are now beginning the implementation of the plans arising from the Business Review to rebuild a sustainable sales led recovery."
Distribution problems have in part been blamed for Sainsbury's recent performance, but the reopening of a depot is expected to help both the availability and delivery of goods to the shelves.
Sainsbury's is pushing ahead with plans to employ an additional 3,000 staff and has adopted a marketing strategy that relies heavily on own-brand product lines.
(SP/GMCG)
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Tesco fail to match Sainsbury over Christmas period
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Tesco fail to match Sainsbury over Christmas period
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Sainsbury's reports strong Christmas trading
Supermarket group Sainsbury's has reported stronger sales over the Christmas period in its latest trading figures published today. The group, Britain's third largest supermarket chain, reported a 5.2% rise in like-for-like sales in the 12 weeks up to the end of December - the fourth quarter of consecutive like-for-like sales growth for the firm.
Sainsbury's reports strong Christmas trading
Supermarket group Sainsbury's has reported stronger sales over the Christmas period in its latest trading figures published today. The group, Britain's third largest supermarket chain, reported a 5.2% rise in like-for-like sales in the 12 weeks up to the end of December - the fourth quarter of consecutive like-for-like sales growth for the firm.
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