DSG plans widespread closure of Currys stores
Clearasil shares plummet
UK ELECTRONICS RETAILER Currys plans to close 77 of its 177 UK stores over the next five years as their leases expire. The closures come as part of a major revamp by owner DSG, which has announced plans to slash costs by £50 million in the current financial year.
DSG owns both Currys and PC World and announced a rather feeble one percent rise in sales over the last 12 months. Its shares plummeted 12 per cent on the news before recovering a bit to just under nine per cent down.
Company boss John Browett put the blame on customers being driven by special deals and promotions and having less money to throw around.
Analysts reckon that Web shopping will continue to erode sales at high street stores, making the outlook for DSG look somewhat less than rosy.
Maybe they wish they'd taken out the three-year extended warranty. µ
L'Inq
DSG's
Five-point plan
Comments
crap at currys
dont forget currys who does specialise in deals for the customers got rid of commission which was replaced with a crap bonus scheme unfair to good sales staff and put even more pressure on selling finance and warrantys and less on volume of products ,this had a significant effect the way we sold to customers in the branch i worked staff shyed away from customers worried they would not acheive their targets ,and lots more part timers were employed making store targets harder ,currys
i agree with previous comment i used to work for currys and you hit the nail on the head there used to be mystery shopper bonus as well as commission now the new bonus system is a joke as they raise the targets so u cant achieve it