Excellent first year for Dixons Carphone | RetailDetail

Excellent first year for Dixons Carphone

Excellent first year for Dixons Carphone

The British electronics group Dixons Carphone has generated 6 % more turnover and 21 % more profit in the past fiscal year, which is its first fiscal year following the Carphone Warehouse - Dixons merger.

Profit up 21 %

The merger group's first fiscal year, which ended on 2 May, resulted in a 9.9 billion pound (14.2 billion euro) turnover, up 6 % compared to the combined turnover of both merger partners. Gross profit even grew 21 % to 381 million pounds (550 million euro).

 

The merger group took advantage of increased demand for HD televisions and smart electronics. On top of that, the UK collapse of its competitor Phones4U and the Greek panic purchases of consumers who wanted to get value for their money have also helped to boost its turnover. The Greek branch was profitable, although the board admits the "situation remains challenging".

 

Withdrawn from Benelux

In the United Kingdom, Dixons Carphone is active with its Carphone Warehouse, Currys and PC World chains, while it manages the Elkjop and El Giganten chains in Scandinavia and the Kotsovolos chain in Greece. It also has brands like Phone House and Geek Squad in its portfolio, with more than 3,000 points of sale all across the world.

 

However, it is no longer active in the Benelux: it sold its majority stake in the Dutch branch of The Phone House to Relevant Holdings in June. That company also owns telecom retailer Optie1. It had already long since left Belgium.

Questions or comments? Please feel free to contact the editors


Ceconomy sells its Russian division

21/06/2018

Ceconomy, MediaMarkt's parent company, has sold its onerous Russian division to local electronics chain M.video. The German electronics giant does not quit Russia altogether however, as it continues as shareholder of M.video.

LVMH's Bernard Arnault invests in refurbished phones

14/06/2018

BackMarket, a French start-up that wants to be a marketplace for refurbished smart phones, tablets and laptops, has secured a 41 million euro investment. The most famous new investor is Bernard Arnault, CEO of luxury group LVMH.

Coolblue closes hundreds of web shops

11/06/2018

Dutch e-commerce group Coolblue has terminated hundreds of its web shops, instead preferring one central web shop at coolblue.be/nl. This may be the precursor to an international expansion, the company says.

Xiaomi's European conquest goes through Paris

23/05/2018

Chinese smartphone manufacturer Xiaomi just opened a physical store in Paris, part of its ambitious European expansion plan. The brand is also dreaming of an American launch.

Fnac Darty and MediaMarkt Saturn enter purchase alliance

16/05/2018

French electronics retailer Fnac Darty has set up a purchase alliance with competitor MediaMarkt Saturn. Both companies will buy together when it comes to the European retail market.

Amazon looking to outbid Walmart in Flipkart deal

03/05/2018

The battle for dominance on the Indian e-commerce market seems to be stepping up a notch: Amazon may be looking to buy a majority stake in Flipkart, trying to better Walmart which already started negociations with the Indian online retailer.