Dixons Retail, the firm which owns electrical retailers Currys, Dixons and PC World, revealed like-for-like sales have fallen by seven percent between April and July this year, compared to the same period last year.

In the UK and Ireland, like-for-like sales were down by 10 percent and total sales feel nine percent. However, in the Nordics, like-for-like sales were up four percent. The company also it had saved an additional £10 million in costs creating a total of £60 million in the current financial year.

John Browett, group chief executive, said the figures were in line with the company's expectations and said last year's particularly strong trade was the of the World Cup and launch of the iPad.

"While underlying market conditions have remained challenging this year we have continued to trade ahead of our markets as customers respond to our improving customer offer.," he said.

"While we remain cautious about the economic outlook we will continue to deliver on our Renewal and Transformation plan and make the business better, easier and cheaper to run and deliver an unbeatable combination of Value, Choice and Service for customers."

In June, the company revealed it made a loss of £224.1m in the financial year ending in April 2011 after shutting 34 stores in Spain, Greece and France.