dixons carphone beats forecast for q1 sales
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Dixons Carphone beats forecast for Q1 sales

Egypt Today, egypt today

Egypt Today, egypt today Dixons Carphone beats forecast for Q1 sales

DIXONS
London - Arab Today

Dixons Carphone, Britain's biggest consumer electricals and mobile phone retailer, beat forecasts for first quarter sales on Thursday, adding to the list of companies that say their consumers seem unfazed by the Brexit vote.
Shares in the company, which trades as Currys, PC World and Carphone Warehouse in the UK and Ireland, have fallen 12 percent in the last three months given its exposure to big ticket goods, and perceived vulnerability to any slide in consumer demand.
But in the 13 weeks to July 30, Dixons Carphone, which also trades as Elkjop and El Giganten in Nordic nations and Kotsovolos in Greece, boosted sales at stores open more than a year by 4 percent, ahead of analysts' average forecast of 2.5 percent thanks to strong sales of mobiles, televisions and domestic appliances like cookers and vacuum cleaners.
Dixons' shares were up 4.2 percent at 389.5 pence at 1041 GMT.
"Dixons Carphone's robust revenue growth is impressive, all the more so given macroeconomic headwinds in its core UK, Nordic and Southern European markets," said George Salmon, equity analyst at Hargreaves Lansdown.
While Britons' vote in June to leave the European Union stunned financial markets, they have since recovered and UK consumers, who drove the recovery after the financial crisis, seem to have largely taken the referendum result in their stride too.
Retailers including department store John Lewis, home improvement firm Kingfisher and fashion retailer Next, have all reported no change in consumer behavior.
Data has similarly suggested Britain's broader economy has not suffered the devastating impact that some "Remain" supporters forecast before the June 23 referendum, although some economists say it is heading for a sharp slowdown.
"We're not experiencing anything at the moment, we're full steam ahead for peak (Christmas) and Black Friday (Nov. 25). If the consumer environment changes then we'll trim our sails to match," Dixons Carphone Chief Executive Seb James said.
"We've just got to take the world as we find it. We're absolutely on the lookout and preparing ourselves in case something like that should happen," he told reporters.
"But at the same time there's a risk it could become a self fulfilling prophecy — if you start reducing your stock intake or all those things, you can make what wouldn't otherwise be a problem a problem."
James also pointed out that Dixons Carphone sources over 90 percent of products sold in Britain in sterling, limiting its exposure to the post Brexit depreciation versus the dollar.
The retailer's like-for-like sales in the UK and Ireland were also up 4 percent, again beating analysts' consensus of up 2.5 percent. They were up 2 percent in the Nordics and 13 percent in southern Europe, driven by demand for fans and air conditioning units in Greece.
Before Thursday's update analysts were forecasting an underlying pretax profit 462 million-505 million pounds for 2016-17, up from 447 million pounds in 2015-16.

Source: Arab News

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

dixons carphone beats forecast for q1 sales dixons carphone beats forecast for q1 sales



GMT 12:50 2011 Saturday ,09 July

Injured Malaysian opposition leader in hospital

GMT 08:34 2014 Thursday ,06 February

Afghan police kill 1 militant, detain 2

GMT 19:06 2011 Tuesday ,02 August

Danone snaps up nutrition business of Wockhardt

GMT 13:13 2012 Friday ,23 March

Classic cars: BMW 507

GMT 14:54 2016 Thursday ,22 December

Cambodia attracts investment projects worth $1.88b

GMT 11:47 2012 Tuesday ,21 February

Lamborghini aventador beats Igloo every time

GMT 19:14 2011 Friday ,28 October

Barley Patch

GMT 17:18 2017 Wednesday ,15 February

Egyptian TV host Lubna Assal optimistic about future
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday