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The last few months have seen the differing strategies and opinions of the Bank of England and the government come to the fore at a time when the UK economy needs all parties to be pulling in the...
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Wednesday 3rd September 2008
While DSG may well be better know to the UK public as Dixons, the massive UK retailer has hit hard times in the wake of the falling economy. The group has seen a heavy fall in sales at Curry’s and PC World which are two of the group’s main performers. So what is happening?
The group today reported a fall in like for like sales over the last 16 weeks of 7 percent and margins which have fallen by 0.75 per cent. Competition has been very intense in the electronic and computing world for some time but these current conditions are the worst for some considerable time. So bad are the vibes for the high street that the group expects to report a loss of over £10 million for the first half of the year against a profit of over £50 million for the same period last year.
It seems that finally we are seeing consumers pulling away from the computing and electrical markets and trying to preserve what cash they have for the rough times ahead. This will inevitably lead to job cuts at some stage which will place more pressure on an already fragile economy.
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