The company announced last month that it would have its first quarter of declining earnings since it went public in 1970, attributing the downturn to a poor Christmas, snowstorms in the Northeast and high operating costs.

Shares in DSG plummeted 27% today after the electrical retailer warned on profits and a "more cautious" outlook this year following a poor Christmas for laptops.

Retailing experts said another poor Christmas would probably lead to store closings and bankruptcies early next year.

With these treasures he hastened home, and found poor Little Christmas and her broom waiting for him outside the door, for the landlady would not let her in.

And, following the departure of managing director Gerry Johnson in January after a poor Christmas, it does seem that the chain is attempting to return to its roots, restoring buying power to staff in individual shops, lessening its reliance on aggressive marketing campaigns and emphasising its focus on quality.

Kesa shares drop 8% after poor Christmas, but Asos, Primark and Mulberry shine 3.