Dixons Group's chairman, Stanley Kalms

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Dixons Group's chairman, Stanley Kalms, disappointed the stock market, reporting that losses had worsened in the group's US chain Silo. It announced 45 store closures there, with the loss of 550 jobs. Group interim profits fell from pounds 17.5m to pounds 14.2m. However, the Dixons and Currys chains in the UK had a sparkling Christmas, boosted by strong demand for computer games. View from City Road, page 29