Interim Statement2 Sep 2010 08:33
DSG INTERNATIONAL PLC
To be renamed Dixons Retail plc
Group trading in line with expectations
DSG international plc, one of Europe's leading specialist electrical retailers, is today updating the market on trading for the 12 weeks ended 24 July 2010.
· Total Group sales up 3% in sterling and like for like sales up 3%
· UK operations gained market share, benefiting from:-
· Strong sales of TVs in the lead up to the World Cup as well as exclusivity of the iPad
· Roll out of store refurbishments as part of the Renewal and Transformation plan
· Retail partnership with Phones4U with 50 mobile store in stores to be open in time for Christmas
· Nordic operations performing in line with expectations, following a year of exceptional growth
· Italian operations performing in line with expectations, offset by a weaker environment in Greece
· Total internet sales were up 12% driven by multichannel and Reserve&Collect
· Gross margins across the Group were up 0.1% year on year
· Store refit programme roll out on track with 200 stores reformatted in the UK, 43 completed during the period including 8 Megastores
· Successful rephasing of debt profile following issue of new 2015 Bond and part repurchase of existing 2012 Bond.