Elkjøp beaten by Norwegian currency fall despite December sales record

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Elkjøp has made its best December ever with a 10 percent sales increase
But the UK-owners DixonsCarphone doesn’t make them best in class
”The impact of the decline in the value of the Norwegian Krone affects us negatively in Sterling terms,” Sebastian James, Group Chief Executive, comments.

Elkjøp’s growth in the period 1 December to 31 December ended at 10.4 percent.
”We are incredible satisfied with the results for the important December month and happy and humble that so many Norwegians chose to make Christmas purchases with us. December 2014 is the strongest ever,” says CEO of Elkjøp Norway, Atle Bakke.
He believes a reason that December was record strong was that Elkjøp last year invested more than ever on the trading day Black Friday.
”Christmas shopping started earlier than usual this year, and we got good help from Black Friday in late November. This is the first year Elkjøp has focused fully on this sales concept and from nothing has this day become one of our top three selling days during the year,” says Bakke.
”We sold exceptionally many appliances, which historically has not gone off in December.”
Swedish sales was reported last week with an increase of 7 percent. There are no numbers reported for Denmark or Finland.
Owner DixonsCarphone also reported the Christmas trade for the full group today.
The like-for-like1 revenue for nine weeks that ended 3 January 2015 reports a six percent increase in Northern Europe for DixonsCarphone. UK and Ireland reports eight percent.
“The strange shape of this year’s Christmas trading was something of a roller-coaster but I am very pleased with the end result. In all of our largest trading markets we have excellent like-for-like performance against fairly tough comparables,” says Sebastian James in a comment.
But he makes a note that the Norwegian currency fall affects the group result.
Over all Dixonscarphone group reports that like-for-like up 7% for the Christmas trading period