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DSGi to launch five new Currys megastores

by Scott Bicheno on 3 March 2009, 10:31

Tags: PC World (LON:DXNS), DSG International (LON:DXNS)

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Mega transformation

The UK's biggest technology retailer DSGi - the owner of Currys and PC World - has offered an update of its "renewal and transformation plan" today and it includes an expansion of its Currys Megastore format.

The plan was first announced in May last year and in the UK it focuses primarily on reformatting existing stores (including one trial of a combined Currys/PC World) and addressing what has historically been viewed as poor customer service.

But the roll out of new type of store, which appears to combine the offering of Currys and PC World in a warehouse style format (see photos on next page), is what has attracted the most attention.

 "The past ten months have been a period of intense activity for the Group, and the results of our new formats show that our plans are working," said chief exec John Browett. "The store transformation programme in the UK is delivering both sales and margin uplift ahead of expectations, and we are on track with plans to reformat another 90-120 stores in the UK and Nordics over the next 12 months.

"While the current economic climate is impacting us in the short term, the good progress we have made with our Renewal and Transformation plan is already making a difference for our customers. This gives us confidence we will come out of the recession stronger and better positioned to deliver a good return for our shareholders."

Shares in DSGi have plummeted in the past few years - from a high of 220p in October 2006 to a low of 16.3p early last December - but as its cunning plan takes effect, there are signs they could be on the rise again. They were up around ten percent to 20p at time of writing.