// Dixons Carphone overall online sales skyrockets by 124% in Q1, with like-for-likes up 12%
// During first half of Q1, online sales more than tripled amid the lockdown & rose 122% in the latter half
// When stores reopened in the latter half of Q1, Dixons Carphone’s sales were up 20%
Dixons Carphone has said that online sales in the UK and Ireland have massively outperformed its markets in mainland Europe, as British stores were forced to close during lockdown.
For the quarter ending August 29, overall online sales skyrocketed by 124 per cent in the retailer’s core UK and Ireland market, while like-for-like sales rose 12 per cent.
During the first half of the quarter, UK and Ireland online sales more than tripled amid the lockdown and rose 122 per cent in the latter half.
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Meanwhile, when stores reopened in the latter half of the quarter, Dixons Carphone’s overall sales were up 20 per cent.
In the Nordics, online sales rose by 49 per cent, while they increased by 115 per cent in Greece. Stores were open throughout the period in both markets.
“Online has continued to power ahead: in the UK and Ireland alone we grew online sales by more than £500 million in four months, growth that stayed strong even as stores reopened,” Dixons Carphone chief executive Alex Baldock said.
However, rises in one area were largely offset by falls in others, as shop sales plummeted during lockdown.
As people avoided airports and railway stations to avoid the spread of the Covid-19 virus, Dixons Travel Stores saw their sales plunge by 90 per cent.
Overall, like-for-like sales increased by 14 per cent.
The retailer said that despite what looks like strong trading at the moment, it is uncertain over its outlook for the year.
It added that it was considering a plan to list a minority stake of its Nordics business on a public market.
Baldock said the listing would allow Dixons Carphone to get a better grip on the value of its Scandinavian subsidiary.
It has become the market leader in every country where it operates.
A potential initial public offering would take place next year, with Dixons Carphone selling a minority stake, while keeping the subsidiary under the group.
“We’re also in the early stages of exploring the option of listing a minority stake of our Nordics business next year,” Baldock said.
“This would shine a light on the value of the Nordics business whilst retaining it as part of the group.”
with PA Wires