4/30/2013 10:17:33 AM
UK pulls up Carphone Warehouse's results
Carphone Warehouse saw its postpay and prepay share grow during the past three months, with its like for like sales up 15%.
While the main news from the retailer this morning was Carphone Warehouse Europe buying out Best Buy's 50% share in its business, it also announced its fourth quarter results. It repeated its target to make headline profits of between £135m and £145m. Its like for like sales across the entire European operation were up 6.5%, with connections up 9.7%. The retailer singled out continued strong sales in tablets, saying it was gaining 'further authority' in the category.
It also sold a building in Acton, west London for £40.5m, with a further deal worth £10.5m completed after the trading period ended.
Compared to the UK performance, its continental Europe business was weaker, with France 'particularly challenging'. It has finished its strategic review in the country and is planning to exit France following store disposals and closures, to the tune of between £80m and £90m.
Author: Graeme Neill