Published: Mon, January 22, 2018
Money | By Armando Alvarado

Record sales at Dixons Carphone Ireland over Christmas

Record sales at Dixons Carphone Ireland over Christmas

Dixons Carphone (LON:DC) sales received a boost from iPhone X sales across the Christmas period, in its trading update on Monday.

The UK's largest electricals and mobile phone retailer reported a 6 percent rise in underlying revenue in the 10 weeks to January 6, its fiscal third quarter.

Dixons narrowed its guidance for the year ending on April 29, saying it expects to deliver headline pretax profit in a range of GBP365.0 million to GBP385.0 million for the year ending in April. He will report to Alex Gourlay, Co-Chief Operating Officer for Walgreens Boots Alliance.

"Dixons Carphone has a very strong market position in both the United Kingdom and Northern Europe, and we think its business is likely to prove more resilient than the market expects", said RBC Europe analyst Richard Chamberlain. The stars of the show were unquestionably Greece and the Nordics where like-for-like revenues rose by 23% and 11% respectively and I was also satisfied, in this more cautious consumer environment, with like-for-like growth of 3% in the UK & Ireland.

The company announced that Sebastian James will take over as Senior Vice President and President and Managing Director of Boots, effective September 1.

Over the past year, the company has been...

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Elizabeth Fagan, who has led Boots since 2016 and is herself a former Dixons employee, will take on the newly created role of Non-Executive Chairman of Boots.

It is a much stronger company today than when he became CEO of Dixons Retail in 2012 with revenue, profit and customer satisfaction all substantially higher.

The poor performance of Dixons Carphone's share price - down by almost half over the previous year - has left Mr James and senior colleagues nursing worthless share options which could have been worth millions of pounds.

But Mr James said market conditions meant that its profit margins in the mobile phone business "continue to be challenged".

"For the remainder of this year we have an early Easter, a new Samsung phone and the first week or two of our World Cup promotion to look forward to, and work continues on redefining and refocusing our Carphone Warehouse business to be a simpler, less capital-intensive model".

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