James Moore: Happy days for Dixons

Outlook Something of a mixed bag from the high street yesterday, although shareholders in DSGi (the silly name for Dixons) had something to cheer about thanks to a robust set of numbers, let down a bit by PC World (that might not suprise anyone who has shopped there recently).

Partly the group has benefited from people rushing to buy before the reversal of the VAT cut. However, television sales have been steadily improving for a while and perhaps it's no surprise. After 18 moths of hideous recession with moths building up in the wallets of almost everyone, there are a lot of people with antiquated kit they will have been itching to replace. Something they will no doubt have cause to regret with the advent of 3D TV over the next year which promises to make most of those snazzy new flatscreens outdated in a matter of months.

The next couple of quarters might be slower for the company, but when the new machines come into the shops, even a double-dip recession is unlikely to put technophiles off. With electronic superstores proving popular (why did it take so long to realise knocking down the walls between Curry's and PC World stores was a good idea?) it should be happy days for Dixons (sorry, DSGi).