Brian Goodman, CEO of Golden Matrix Group Inc. explains how they stay one step ahead of their rivals. Watch the interview here.

Less Ads, More Data, More Tools Register for FREE
Sponsored Content
Sponsored Content

Pin to quick picksDC..L Share News (DC.)

  • There is currently no data for DC.

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

TOP NEWS: Dixons To Close All Standalone Mobile Phone Stores In UK

Tue, 17th Mar 2020 10:16

(Alliance News) - Dixons Carphone PLC said Tuesday it will close all of its UK standalone Carphone Warehouse stores - 531 shops representing 8% of its total UK selling space.

Shares in the retailer jumped 19% to 74.44 pence each in London on Tuesday morning in response to the announcement.

The company said mobile phones are to be sold through Carphone Warehouse sections of Currys PCWorld electrical shops.

Dixons Carphone expects 2,900 redundancies as the businesses are combined. It said the 70 Carphone Warehouse stores in the Republic of Ireland aren't affect, nor are international operations.

Alex Baldock, chief executive of Dixons Carphone, said: "Customers are changing how they buy technology, and Dixons Carphone must change with them. Today's tough decision is an essential part of that, the next step in making our UK Mobile business a success for customers, colleagues and other shareholders. Clearly, with unsustainable losses of GBP90 million expected this year, Mobile is currently holding back the whole business".

Dixons Carphone is the product of a 2014 merger of electronics seller Dixons Retail and mobile phone retailer Carphone Warehouse. Since then, Dixons Carphone has been opening Carphone Warehouse shop-in-shops in Currys PCWorld stores and now has 305 of these.

Dixons Carphone added that it has not yet seen a "material impact" from Covid-19 but is preparing for one. It said it still expects adjusted pretax profit of GBP210 million in its current year ending in April. Headline pretax profit in financial 2019 - excluding one-off costs - was GBP298 million.

"As a group, we are monitoring the situation closely. We are aware that our stores could experience a significant reduction in sales in the months ahead and we are modelling a range of downside scenarios and planning accordingly. Our large bank facilities have substantial headroom (on capacity and covenants) and over two and a half years until maturity," Dixons Carphone said.

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
8 Sep 2021 16:09

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

Read more
20 Aug 2021 10:40

JD Sports among worst online retailers for customer service: Which?

JD Sports among worst online retailers for customer service: Which?

Read more
12 Aug 2021 16:04

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

Read more
23 Jul 2021 13:15

DIRECTOR DEALINGS: Renalytix CFO Sterling sells USD350,000 in shares

DIRECTOR DEALINGS: Renalytix CFO Sterling sells USD350,000 in shares

Read more
21 Jul 2021 16:38

DIRECTOR DEALINGS: Ocado chair buys; Predator project director sells

DIRECTOR DEALINGS: Ocado chair buys; Predator project director sells

Read more
8 Jul 2021 15:20

EXECUTIVE CHANGES: Quixant hires from XP Power; Impax taps former MP

EXECUTIVE CHANGES: Quixant hires from XP Power; Impax taps former MP

Read more
5 Jul 2021 09:37

BROKER RATINGS: Deutsche Bank lifts Flutter to Buy; Goldman cuts IMI

BROKER RATINGS: Deutsche Bank lifts Flutter to Buy; Goldman cuts IMI

Read more
1 Jul 2021 13:45

Thursday broker round-up

(Sharecast News) - Ascential: Berenberg upgrades to buy with a target price of 485p.

Read more
30 Jun 2021 17:05

LONDON MARKET CLOSE: Lower finish fails to dent FTSE's strong quarter

LONDON MARKET CLOSE: Lower finish fails to dent FTSE's strong quarter

Read more
30 Jun 2021 12:17

LONDON MARKET MIDDAY: Stocks slide ahead of US ADP jobs report

LONDON MARKET MIDDAY: Stocks slide ahead of US ADP jobs report

Read more
30 Jun 2021 09:55

TOP NEWS: Dixons Carphone resumes dividends after online sales jump

TOP NEWS: Dixons Carphone resumes dividends after online sales jump

Read more
30 Jun 2021 08:21

LONDON BRIEFING: Dixons beats pandemic with omnichannel strategy

LONDON BRIEFING: Dixons beats pandemic with omnichannel strategy

Read more
30 Jun 2021 07:58

LONDON MARKET PRE-OPEN: Dividend contrast from Dixons and Stagecoach

LONDON MARKET PRE-OPEN: Dividend contrast from Dixons and Stagecoach

Read more
30 Jun 2021 07:01

Dixons Carphone returns to profit, resumes dividend as online sales soar

(Sharecast News) - Dixons Carphone reinstated its dividend as it swung back to profit on the back of a massive boost in online electrical goods sales during Covid lockdowns.

Read more
23 Jun 2021 16:06

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more

Track Your Investments

Register for FREE

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.