Carphone Warehouse chief executive Charles Dunstone said the business had outperformed the market and that he was confident about its prospects. “We believe we are well-positioned as a group, despite the more uncertain consumer environment,” he said.
The retailer posted a 3.6 per cent rise in comparable store sales in December, when like-for-like gross profit increased eight per cent.
In the third quarter, retail revenues rose13 per cent to£650 million, up 1 per cent on a like-for-like basis. Dunstone said full-year expectations were unchanged.
Carphone’s joint venture in the US with Best Buy is “progressing well”, Dunstone said. Carphone now has a presence in 181 Best Buy shops and eight standalone stores.
Carphone’s Geek Squad technology support business will be launched in Spain this month.
Broker Numis noted: “Carphone is better placed to weather a consumer downturn, because a large proportion of its revenues are recurring, as well as the ability of its clients to often upgrade their phones for free.”
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