The battle of Britain’s big name electrical goods retailers appears to be well and truly won. By Dixons Retail. The company - which owns Currys and PC World - have just announced they’re back in the black for the first time in five years.
The UK & Ireland division of the European firm has just posted a £5.6million profit for the months from January to June. Remarkable, as they made a £6 million loss during the same period of 2011. CEO Sebastian James said he’s ‘encouraged’ by the good results which were boosted by the extraordinary events of this summer: the Queen’s Diamond Jubilee and the London 2012 Olympics.
Dixons Retail’s success is in sharp contrast to rival Comet’s fall from grace. The firm’s recent administration is well-documented. It’s axing 2,000 jobs across its 240 stores. And according to Comet’s website - 40 stores have already shut down with a raft of others earmarked for closure in the coming weeks, many of them offering 50% discounts off scores of product lines.