Unconfirmed...for now
The Sunday Times has speculated that new DSGi chief executive, John Browett, will announce the closure of up to 200 stores when he makes his first strategy announcement this Thursday. It also asserted that “dozens more will be converted to accommodate both the Currys and PC World brands under one roof.”
It must be noted, however, that HEXUS.channel contacted DSGi to verify this story and, while it didn’t want to offer comment before the announcement, it stated that the above and other such stories are just speculation.
This comes amid tough times for DSGi, with is having disappointing results for a while now and US electronics retailers looking set to make a big push into Europe.
DSGi’s last business update was on 10th April, when Browett commented: “The trading environment since we last reported has remained challenging across our markets, particularly in the UK, Italy and Spain. Whilst like for like sales patterns are broadly in line with those we reported over the Christmas period, it is clear that customers have become increasingly promotion and deal driven, impacting gross margins.”
“Going forward it is important that we increase our focus on delivering the value, choice and service that our customers demand, particularly in the prevailing difficult economic environment. I will present the first phase of the business review I have carried out since joining DSGi on 15 May 2008.”
Further reading - Opinion: The Yanks are coming
