Dixons Retail reports losses

<p>Dixons Retail has lost money due to its troubled online outlet Pixmania.</p>

Dixons Retail has revealed it made a loss in its most recent financial data.

Even though like-for-like sales increased by four per cent, the firm announced that it recorded an annual pre-tax loss of £115.3 million.

Speaking to BBC News, chief executive Sebastian James described trading conditions as "tough" and said the company does not anticipate this to improve in the near future.

Dixons blamed its losses on asset writedowns and restructuring charges, which mainly related to its struggling online outlet Pixmania.

"We've spent this year cleaning up the business and focusing it on what it does really well," Mr James told the news provider.

He suggested the firm will now look at its options and decide what to do with Pixmania later in the year.

Following the announcement the company has made an annual loss, the share price of Dixons is down by 0.4 per cent today.

Its stocks were selling for 42.16 at 16:28 BST, down 0.17 points on the start of the day.

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