Wednesday, July 26, 2017

Carphone Warehouse like-for-like sales jump 10.6 per cent

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Carphone Warehouse has announced a jump of 10.6 per cent in like-for-like sales for the first quarter, as more customers bought high-end smartphones driving higher revenue per connection.

The mobile phone retailing giant also posted revenue of £816m in Q1- a 5.2 per cent increase on the same time last year.

Roger Taylor, CEO, said: “We have enjoyed a good first quarter with strong like-for-like revenue and connections growth, and are reiterating the guidance we gave when we presented our final results for 2012-13 in late June.

“Postpay sales in the UK were particularly strong, continuing the momentum of the previous quarter, as our offers and service continue to resonate with the customer.” The chain has cut 38 of its stores but has increased its franchises abroad by 0.9 per cent as it seeks to rebalance its business.

A spokesman for the company said that it would ‘welcome franchising investment abroad’.

The retailer’s sales revenue dropped by 15.1 per cent in its joint venture Virgin Mobile France as fierce competition in the French market and a lower customer base dented sales.

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