Wednesday, November 22, 2017

Carphone Warehouse increases market share despite Three loss

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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.