Dixons had a merry Christmas

Dixons Retail has reported good sales growth over the Christmas season. Excluding store openings and closures, sales in the 12 weeks to 5th January were up 7% from the same period in 2011. UK and Ireland sales rose 8%. Profit margins had been squeezed, but Dixons stated this was due to a change in the mix of products sold (customers were particularly buying low-margin tablet computers), rather than rising costs or price discounts. Full-year profits will be £75m-£85m.