Published on September 9th, 2014 | by The GC Team0
Dixons Carphone reports “good start” but mobile sales fall
Dixons Carphone will join the FTSE 100 on 22 September, the company said today as it announced a “good start” to the £3.6 billion merger between Dixons Retail and Carphone Warehouse, which took place on 7 August this year.
In a brief trading update, Dixons Retail reported first-quarter like-for-like sales up 4% in the UK & Ireland, while the Nordics and Greece delivered growth of 1% and 6% respectively. But sales at Carphone Warehouse fell 6% due to a strong performance in the prior year and difficult market conditions in Spain.
Sebastian James, Group Chief Executive, said: “I am pleased to report a good start to the year and to our new shared enterprise. Dixons Carphone looks to be in excellent shape to tackle the perpetually shifting sands of the market and to achieve its goal of improving our customers’ lives through technology.
“The integration is going well with 7 departments now serving both parts of the business in an integrated way and, although it is early days, our 11 stores-in-store are performing ahead of the business case that we set out in our merger announcement.”