Dixons leaps after boost from Olympics

Dixons gave further evidence yesterday that it is fending off the e-tailers, with rising sales on the back of a busy summer of sport.

New chief executive Sebastian James says the company sold five times more 55-inch TVs this year than it did last as families boosted their home entertainment kit to better enjoy the Olympics.

With rivals such as Best Buy quitting the UK and Comet struggling, the City increasingly thinks Dixons will emerge as the winner in the sector, indeed perhaps as the last man standing in the electrical retail space.

In the 12 weeks to 21 July sales in the UK and Ireland were up 7 per cent.

They dropped by 10 per cent in southern Europe, which Mr James says is not likely to improve any time soon.