Dixons Carphone, Quiz and Topps Tiles warn of coronavirus-induced sales falls

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Dixons Carphone, Quiz and Topps Tiles have all removed their guidance on profits following the government mandate that they shut all their stores to stem the spread of coronavirus.

Dixons Carphone said, prior to government-mandated store closures earlier this week, its UK and Ireland sales had reported a strong uplift, with electricals sales up 8% in like-for-like terms in the period from January 5 to March 21.

The retailer’s online growth was up 23% during that period and up 72% in the three weeks to March 21. Dixons Carphone said “online trading has been very strong in all countries over the last two weeks as people have been preparing to work from home and use essential technology to continue their lives during the coronavirus outbreak.

“Early signs are that this strong trading has continued since stores closed and will help to compensate for lost store sales.”

Despite strong online demand, the stores that have been told to shut by the government were expected to contribute sales of around £400m for the rest of the year, and as a result of these lost sales said the business will “not update current-year or medium-term guidance until the impact of Covid-19 becomes clearer”.

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