Published on September 5th, 2019 | by The GC Team0
Dixons Carphone “on track” despite tough mobile market
Dixons Carphone today said it is on track both with this year’s trading and its longer-term transformation as it posted a trading statement for the first quarter 2019/20.
The retailer reported mobile revenue down 10% in UK & Ireland, but said it was in line with plan in what continues to be a challenging traditional postpay market.
Like-for-like electricals revenue for the region grew 2% with a strong performance in white goods, tablets and gaming, but small declines in large screen TVs against World Cup comparatives.
International like-for-like revenue grew 4% with the Nordics up 4% and Greece up 7%. Share gains were achieved across all markets, most significantly in Finland and Sweden.
The retailer added that online growth in Electricals rose 14%, and the business is on track to grow its UK range by 5,000 SKUs this year.
Group Chief Executive Alex Baldock said: “In Electricals we continued to grow and win market share in all territories and customer satisfaction further improved. The Mobile market is as challenging as expected, underlining the need for the decisive actions that we set out in June. We remain committed to growing Electricals sales and headline profits in UK & Ireland and International this year, and to this being the trough year for Mobile losses.
“The current political and economic climate is volatile but, assuming no material disruption from that, we stand by our full year guidance, as we do our longer-term commitments on EBIT margin and cashflow.”
The Group will publish its interim results on Thursday 12th December 2019.