Transformers
The second year of DSGi's ‘renewal and transformation plan' looks like it's delivered the results, as the group behind PC World and Currys in the UK reported an increase in full-year profits of 61 percent.
However they chose to brand it, DSGi has been going through the same kind of streamlining most companies have had to do in the wake of the global recession, the only difference is that DSGi already knew things had to change beforehand. The result is a big increase in profitability, despite only increasing total group sales by three percent in that period.
On top of that, DSGi has had to address the matter of having a poor reputation for customer service and value for money. This was all done in the shadow of the impending arrival of Best Buy to UK shores.
"Focus on our customers drives everything we do and I am delighted with the excellent progress we have made over the past twelve months as we continue to transform the Group, despite the recessionary environment across Europe," said chief exec John Browett.
"We have made significant improvements throughout the business, transforming the shopping experience for customers with better choice, value and service both in stores and online. We are now two years into the Renewal and Transformation plan and are encouraged by the improved profitability and competitiveness it continues to deliver."
To celebrate, DSGi has decided to change the group name to Dixons Retail, despite the fact that it took the Dixons brand off the high street years ago, making it a purely online presence. The group expects to open an additional 80 reformatted stores this year, including 21 megastores.
