logo-loader
viewDixons Carphone PLC

Dixons Carphone lifted as customers go for electrical goods at Christmas

UK & Ireland mobile sales dropped 11%, resulting in 2% growth for group sales paired with flat revenues in electricals

Dixons Carphone PLC - Dixons Carphone pares losses in mobile sales over Christmas

Dixons Carphone PLC (LON:DC.) claimed its rejuvenation is on track as the decline in its mobile sales revenue slowed.

The electrical and telecommunications retailer saw an 11% fall in UK & Ireland mobile sales in the ten weeks to 4 January.

READ: Dixons Carphone still hit by low UK & Ireland mobile market

Offset by flat revenues in electricals, it resulted in 2% growth for group sales.

The FTSE 250-listed company said there is no change to guidance.

It will also launch a new mobile offer in the first half of the financial year that starts in April.

“We have had a good peak in a weak UK market and we're on track to deliver what we promised for this year, and with our longer-term transformation,” said chief executive Alex Baldock in a release.

Zoe Mills, retail analyst at GlobalData, pointed out that the electrical division was "noticeably better" than rivals such as John Lewis & Partners, as the sector suffered after a weak Black Friday and "limited newness" in the market.

But the mobile division is "still a major concern" and the decline will not end anytime soon, she added.

"Rejuvenating its proposition will be essential in turning its fortunes around in a market that continues to suffer from longer consumer replacement cycles and a move to cheaper sim-only contracts," Mills said in an email.

Shares were up 5% to 149.21p on Tuesday morning.

--Adds analyst's comment, share price--

Quick facts: Dixons Carphone PLC

Price: - -

LSE:DC
Market: LSE
Market Cap: -
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

i3 Energy team discuss acquisition of Toscana Energy and new growth business

i3 Energy Plc's (LON:i3E) Majid Shafiq and Graham Heath speak to Proactive London's Andrew Scott following the news this morning of a new strategic acquisition - picking up producing assets in Canada. i3E's secured terms to acquire Toronto listed Toscana Energy Income Corporation which owns...

9 hours, 48 minutes ago

2 min read