Dixons warns of profit slump

Dixons Retail has issued a profit warning for the financial year, reducing its forecast to 85 million from predictions of 100 to 110 million made in mid January.

Citing reduced customer confidence across a range of markets, the retailer has laid out a four step plan to ensure it remains on track to deliver its Renewal and Transformation plan.

Consumer confidence across some of our markets is fragile and we expect it to continue to be so through much of 2011,” said Dixons Retail’s group chief executive, John Browett. As a result we are setting out the steps we are taking to secure the delivery of the Renewal and Transformation Plan.”

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