21st Jan 2020 08:20
(Alliance News) - Electronics retailer Dixons Carphone PLC said on Tuesday trading in the peak festive season in the UK was solid, despite a weak market.
Shares were 4.6% higher early Tuesday in London at 149.00 pence each.
Dixons' revenue for the 10 weeks to January 4 was 2% higher on a reported basis, but was flat like-for-like.
UK & Ireland Electricals revenue was 1% higher on a reported basis and up 2% like-for-like. However, Dixons posted an 11% drop in UKI Mobile revenue, with the like-for-like figure falling by 9%.
London-headquartered Dixons said there was "broad-based" growth in televisions, gaming, smart technology, and small domestic appliances, while the decline in Mobile revenue was in line with expectations. Dixons managed to increase market share both in-store and online in the Electricals segment, it noted.
Internationally, revenue fell 1%, but rose 3% like-for-like. In Greece, revenue rose 3% and grew by 6% like-for-like, with Nordics falling 1% but rising 3% like-for-like.
The company's "market-leading" position in the Nordics was strengthened, it added. Domestic appliances and kitchens did well.
"We've had a good peak in a weak UK market and we're on track to deliver what we promised for this year, and with our longer-term transformation," said Chief Executive Alex Baldock.
"Peak saw us continue to invest in our strategic initiatives with encouraging results. Credit and services adoption rates increased, online sales grew strongly, and our newly remodelled stores performed well.
"Coupled with our unambiguous 'You won't get it cheaper. Full stop' price promise, alongside better availability and delivery, this led to big improvements in customer satisfaction and strong market share gains in Electricals," Baldock continued.
By George Collard; [email protected]
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