Screen burn

10 May 2006 By John Foley Follow @johnsfoley

Discretionary items like flatpanel TVs and iPods are driving the UK retailer s sales even though highstreet spending is still subdued. DSG may be at a sweet spot in the product cycle. But it seems consumers are changing their priorities when it comes to musthave gadgets.

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DSG reported group likeforlike sales up 4% in the second half of the last financial year, driven by sales of electronics such as flatpanel televisions and satellite navigation systems. It said market share had increased in all the countries where it operates.

Sales of UK electricals grew 9% on a likeforlike basis. Flatscreen TV sales grew 76% by value as consumers upgraded to new models ahead of this year's World Cup, which begins in June.

In April, DSG said it would move its Dixons brand online, renaming its 190 Dixons highstreet stores under the Currys banner. It also said it was acquiring 75% of Fotovista, a European online retailer of consumer electronics, for E266m (£185m).

Earlier this week, the British Retail Consortium said that likeforlike sales on the high street were up 1.7% in the period from February to April.

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