Jan 21, 2020
Dixons Carphone shares erase gains after error
Dixons Carphone's shares slipped after it said its earlier report of a rise in sales before Christmas was wrong. A rise in sales of supersize 65-inch TVs could not outpace a sharp fall in Dixons Carphone's struggling mobile phone business, where revenue fell 9%. The fall in its phone arm is in line with expectations, and Dixons Carphone has said that it expects this to be a "Trough" year for the mobile phone business. Mobile sales have been under pressure because people are moving away from high-value monthly contracts and are upgrading their handsets less frequently. Recent data from the British Retail Consortium revealed that retail sales fell for the first time in a quarter of a century last year. Dixons chief executive Alex Baldock hailed its Gaming Battlegrounds computer game experiences, which he said was helping gather more customers.
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