www.dsgiplc.com
Dixons Retaill is the parent company of a group of retail brands selling high technology consumer electronics, personal computers, domestic appliances, photographic equipment, communication products, and related financial and after-sales services.
DSG International says cost savings plans on track
Major European consumer-electronics retailer DSG International (LSE: DSGI) said it remains on track to deliver cost savings of £50m in the current financial year to 1 May 2010 and a further £150m over the following 3 years, as it updated investors on progress of its ‘Renewal & Transformation Plan’.
Over the past twelve months, DSG has conducted a review of its store portfolio, and has subsequently exited 152 stores exited across Europe and it is currently accelerating its roll-out of new format ‘Megastores’ and ‘2-in-1’ stores.
"The Renewal & Transformation plan is making significant changes to the group and we have started to see the benefits of this work. The new store formats are popular with customers, particularly the Megastores and the combined 2-in-1 stores”, DSG chief executive John Browett said. The company has identified 70 Megastore locations in the UK, 33 of which will be open ready for Christmas 2010, and the opening of 60 2-in-1 stores are also planned this year.
The company has also rolled out its e-merchant platform in 2009, to Dixons.co.uk, PC World.co.uk and Currys.co.uk. The new platform, operated by PIXmania, provides improved functionality, easier navigation for customers, better product information and accessory attachment, DSG said. The company noted that it currently generates approximately £1.4bn of annual sales through the internet across Europe.
