Apple Dixons Browett
February 1, 2012 by staff
Apple Dixons Browett, It was a bright June day in 2007. The weather was good. Football fans were celebrating England’s 3-0 defeat of Estonia the previous evening. And electricals retailer Dixons – then hiding behind the meaningless name DSG International – was feeling pleased with itself.
Its chief executive John Clare had already signalled that he was standing down after 13 years at the helm. But Dixons was able to announce that it had recruited a bright young man called John Browett from Tesco to take over.
The appointment was well received. The share price ticked up a couple of pence to 167p.
Fast forward four-and-a-half years.
Browett announced yesterday that he was off, lured away by technology giant Apple – which this month gained the distinction of becoming the world’s most valuable company.
Browett, said Dixons, was leaving to run Apple’s worldwide estate of 361 stores – an operation whose takings reached a cool $6.1bn (£3.9bn) in the final three months of last year.
Looked at another way, Apple’s stores have annual sales roughly twice those of the empire that Browett currently heads.
And Dixons’ share price last night? A meagre 14.1p.
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