We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
79,864 News Articles

Dixons denies shop closures

Slow sales could shut electronics stores

Electronics giant Dixons today denied rumours that it plans to close half of its high street stores because it is "making little or no money".

The report published in the Independent newspaper yesterday contains comment by Tony Shiret, an analyst at CSFB, who claims poor sales will force Dixons to close around half of its 329 high street stores this year.

But Dixons claims Shiret is simply speculating.

"There is no truth in the rumour. We plan to open larger Dixons XL stores, which will lead to some store closures," said a company spokesman. "We have four XL stores open at present but these are only in trial stages, the report is simply speculation."

Shiret cites the expected loss of profits created by the recent extended warranties decision and the general downturn across the PC sector as a whole, plus the growing competition created by supermarket chains moving into the electronics sector. This combination of factors, says Shiret, has put pressure on Dixon's earnings.

The group, which also owns the PC World chain and The Link stores, is expected to reveal the true state of play when it publishes its financial results on Wednesday.


IDG UK Sites

45 Best Android games: top Android games for your smartphone or tablet in 2014 (24 are free!)

IDG UK Sites

How Apple, Adobe, Microsoft and others have let us down over UltraHD and hiDPI screens

IDG UK Sites

Do you have the X-Factor too? Mix Off app puts fans in the frame

IDG UK Sites

iPad Pro release date, rumours and leaked images - 12.9 screen 'coming in 2015'