May 29, 2018

Dixons Carphone shares dive on profits warning

Shares in Dixons Carphone have sunk by nearly a quarter after it warned of a sharp fall in profits this year. The mobile phone and electrical goods retailer said profits for 2017-18 would be £382m, but it expects profits to fall to £300m in 2018-19. The company also plans to close 92 Carphone Warehouse stores this year. Total sales were 3% higher in the year to 16 April, while like-for-like sales were up 4%. In the UK, sales grew 2% for the year as a whole, and by 1% in the fourth quarter. The international division division did better, with like-for-like sales in the Nordics up 9% in the year and Greece up 11%..

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