29 June 2007
DSG has reported a 'disappointing' full year performance but announced a 100 million pound share buyback.
The UK electricals operations include Currys, Currys.digital and the Dixons Tax Free stores. Total sales for the year were up 1% at £2,677.0 million (2005/06:£2,639.7 million) while like for like sales were up 3%, as Currys continued to reduce its exposure to smaller High Street retail sites.
The company had warned last month that it will incur restructuring and impairment charges of between £180m and £200m for a write down in Italy, the closure of PC City operations in France and the sale of Genesis Communications.
Source: Retail Bulletin.