DSG sales supported by the World Cup and the iPad
- on 09.03.10
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DSG International on Thursday reported quarterly sales in line with expectations, benefiting from strong demand for the iPad, the digital tablet from Apple, and televisions during the World Cup soccer.
The number two European distributor of consumer electronics has shown, however, worried about the economic outlook, even if he says well positioned.
The group's sales in its British stores open at least a year rose 3% during its first fiscal quarter ended July 24, while analysts were expecting growth of between 2% and 4%.
Gross margin for DSG, which owns the Currys and PC World chains in the United Kingdom, Italy UniEuro, Elkjøp in northern Europe and Kotsovolos in Greece rose 0.1%.
"Our business in the United Kingdom showed particularly good results, mainly with clients who responded to our major promotional campaign tied to World Cup," said DSG.
On a comparable basis, sales rose 6% in Great Britain and Ireland, where the group has gained market share, but remained stable in the Nordic countries.
DSG said that its program of upgrading its stores was underway, 200 outlets have already been modified in Great Britain.
At 8:20 GMT, DSG took 1.93%, while the Stoxx European retailers grouping yielded 0.11%.
Fears regarding the expenditure of households have particularly affected the title in August, the month in which DSG has declined 10% while the index of UK retailers has lost 6%.