IPhone X boosts Dixons Carphone sales

Dixons Carphone

"In short, the whole team did a great job, and my most honest thanks to everybody for their hard work during this busy period", said outgoing chief executive Seb James. Dixons confirmed this morning that he will be replaced by Alex Baldock, who now runs online retailer Shop Direct.

He said he "can't wait to get started" and added: "Seb and the team have achieved an extraordinary amount, not least reinforcing Dixons Carphone's position as a leading electrical and mobile retailer in Europe at a time of wrenching change".

He replaces Seb James, who is leaving after six years to take over at high street chemists Boots - as first revealed by Sky News over the weekend.

The company was created in 2014 through the merger of Dixons Retail and Carphone Warehouse in response to increased competition from online retailers. It...

Following the resignation of James, the company brought forward the release of its Christmas trading update.

The average consensus forecast for pre-tax profit is about £377mln.

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Analysts are forecasting a 2% rise in overall United Kingdom like-for-like sales over the 10 weeks to January 6, which would mark a slowdown on the 3% growth in the second quarter. A delay to the release of the iPhone a year ago had hurt first half sales.

The best performing regions were Greece and the Nordics, which delivered LFL revenue growth of 23% and 11% respectively.

Festive trading figures from Dixons Carphone on Tuesday are set to show ongoing woes in its mobile phone arm as the retailer battles to halt sliding sales in the division. The firm also showed like-for-like growth of 3% in the United Kingdom and Republic of Ireland.

He said that an early Easter, the launch of a new Samsung phone and a promotion around the World Cup all have the potential to boost performance over the coming months. That compares with a previous forecast of 360 million to 400 million pounds given in December.

"As previously stated, with over 700 Carphone stores in a total estate in excess of 1,000 across the group, there is ample opportunity to rationalise the Carphone estate and improve profitability in mobile while still retaining a dominant market position", he said.

However, Mr James said there were some bright spots ahead.


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