Jun 28, 2017
Dixons Carphone shrugs off retail woe as profit jumps
Dixons Carphone has defied the gloom enveloping Britain's retail sector, reporting rising sales and a jump in pre-tax profit as it enticed customers away from rival sellers of consumer electronics and white goods. Mr James, who has led the electronics retailer since it was created by the 2014 merger of the Dixons appliance chain with communications specialist Carphone Warehouse, said the "UK consumer environment seems to be holding up for us". Eleanor Parr, retail analyst at GlobalData, said the results showed Dixons had succeeded in "Finding innovative ways to improve sales". Dixons' shares were 1.6 per cent lower in early afternoon trading in London at 291p. Last month, Dixons announced that it would open branches in two Tesco superstores, as the grocery chain looks to find better uses for surplus space in its larger branches. Dixons has pulled back from a planned push into the US electronics market.
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