Electronics retailer DSG International, which owns Dixons and Currys, has warned that its full-year profits will be lower than expected after a weak Christmas spending period, in which its underlying sales fell 1% on the same period a year earlier.
DSG said disappointing trading in the UK, Italy and Spain would leave annual profits up to £50m below expectations.
It reported lower demand for lap-top computers, while margins were affected by the need for promotional activity to drive sales of flat panel televisions and other electrical items.
Like-for-like sales - which strip out figures from new stores - fell 1% in the 11 weeks to December 29, hit by an 11% drop in sales of computing goods.
