Currys and PC World parent DSG International is claiming new store formats are helping the group recover from recent heavy financial losses.
DSGi posted a £30m loss in its half year results last November but says new formats include Currys Superstores and Megastore, CurrysDigital and PC World Superstores are helping turn things around.
The formats, which also include one combined Currys and PC World store, are delivering sales increases higher than expected at between 15-50%, compared to its old-style stores.
DSGi updated the city today (March 3) in a bid to shore-up investor confidence in the group.
It says it will expand the four CurrysDigital high street formats, which are recording gross profit rises of “between 30-40%”, to 100 city centre and “smaller catchment area” locations, with plans to close any remaining Currys in-town locations.
PC World Superstore refits will be more selective than in 2008, says DSGi, as performances have been mixed among the 41 that were opened in 2008. It says some stores are not hitting “target level of availability” compared to others which recorded 15-25% gross profit increases.
DSGi chief executive John Browett says it plans to rebrand and reformat a further 90-120 stores in the UK and the Nordic region in 2009-10.
“While the current economic climate is impacting us in the short term, the good progress we have made with our Renewal and Transformation plan is already making a difference for our customers,” he says.