Monday, September 25, 2017

Carphone Warehouse increases market share despite Three loss


Mobile phone firm Carphone Warehouse has posted a 5 per cent like-for-like UK sales rise for the third quarter of 2013 (Q3) and increased market share despite a sharp decline in the pre-pay market.

The Group, which operates over 2,000 stores including franchising, posted a 3.1 per cent revenue rise in Q3 as it saw a 15.6 per cent revenue fall in its joint venture with Virgin Group in France.

The company said that the pre-pay market decline was “worse than expected” and fell around 25-30 per cent overall but added it continued to gain market share in both prepay and post pay categories. The retailer suffered a blow late last year after mobile phone network Three announced it would cancel selling its products in Carphone Warehouse stores.

“We remain focused on our multi-channel customer journey, on driving 4G penetration and continuing to make good progress in our partnership relationships and our Connected World Services business,” said Andrew Harrison, CEO.

The firm said it was “very encouraged” by the impact of 4G and expected its momentum to build, despite “challenging market dynamics” across Europe.


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