Dec 12, 2019

Dixons Carphone needs vision of Christmas Future

The spectre of queues for goods that can only be reserved and paid for in-store - like a Victorian pauper's turkey - also shows how far Currys, and its owner Dixons Carphone, still is from a vision of Christmas Future. UK mobile revenues fell 18 per cent and profit was hit by a £26m charge for lower "Network receivables" - money owed by contract customers. Dixons Carphone's new business model - of providing its own credit-based handset purchase scheme, with connectivity options that include its own network operator - is set to be implemented. In electricals, fewer shoppers sought Lenovo laptops or bigger appliances - resulting in a 2 per cent sales decline in Q2. Still, this was ahead of the wider market, with online sales up 11 per cent and more than one in 10 items bought on lucrative credit. Clerks at research provider Retail Economics critiqued the story, noting: "Appetite for electricals is strongly linked to confidence and consumers remain concerned . . . levels of debt." But not concerned enough to slow a 15 per cent increase in active credit customers.

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