Curry’s not so hot as sales plummet

Christmas high street trading is looking tough for many top names as shoppers opt to keep their cash in their pockets.

On the back of news that Woolworth’s and MFI have called in the administrators and sales are down at the John Lewis chain, the PC World and Curry’s super group revealed sales have fallen through the floor.

Brand owner DSG International reported a half-year loss of £29.8m, compared with a profit of £52.4m in the same period last year.

The company said that sales in stores open longer than a year were down 7% during the period.

Clinton Cards also reported a sharp fall in sales with like-for-like sales – which strips out the impact of store openings and closures – fell 6% in the 16 weeks to 16 November.

Sales are also down 7.1% at its Clinton branded stores, and 2.5% lower at the company’s Birthdays outlets.

The firm has opened 12 new stores since August, but closed 21. It now has 1,042 outlets across the UK, comprising 697 Clinton stores and 345 Birthdays shops.

Market trading in the City closed with the FTSE at 4153, 18.56 points down for the day.

US President elect Barack Obama has promised help is on the way for the country’s beleaguered economy ‘from day one’ he is in office. 

Wall Street responded to his remarks and the appointment of more economic advisors with approval. The DOW closed up 247 at 8726.

Meanwhile, car giants Ford, GM and Chrysler have been told to pull their act together and come back to Washington with a viable financial plan if they want $25 billion in state aid.

On the financial markets, the Pound closed at £1.53 against the US dollar and £1.88 against the Euro.

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