May 24, 2017

Dixons Carphone tackles savvy shoppers

In a trading update today, the retailer said global revenues for the group were up by 9 per cent for the full year to April, with a 4 per cent rise in like-for-like revenues. In the UK, for the full year, like-for-like sales were up by 4 per cent, and while reported revenues dipped by 1 per cent in the quarter ending in April, like-for-like sales were up by 2 per cent for the period. The company now projects that pre-tax profits for the year will be between £485m and £490m, a narrower range with a lower upper bound than the £475m to £495m previously expected. Our full year like-for-like sales of 4% over the year is pleasing across the Group; in the last quarter, sales in the UK & Ireland were - especially in phone - impacted by the later launch of the iconic Samsung S8 and by a late Easter. In the Nordics, revenues rose by 1 per cent "Against a relatively tough backdrop", while in southern Europe, the company says it had a "Very good year" marked by the continuing outperformance of Greece, perhaps an unlikely place for sales of flat-screen TVs. Full-year results are due in late June.

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