7/23/2009 12:16:00 PM
Carphone Warehouse reports ‘solid’ results
Carphone Warehouse has reported ‘solid’ results for the 13 weeks ended 4 July, with connections up 3% year on year to 2.7 million.
Total revenues for the company’s retail arm, Best Buy Europe, were up 6% to £773m, but revenues in its TalkTalk business were down 2% on last year to £340m. TalkTalk added 47,000 broadband customers during the period.
Carphone opened four more stores in the Wireless World format, taking the total number to eight. It said it was on track to open the first of its Best Buy stores by March 2010.
The company also said it hoped to complete plans to split the TalkTalk arm from the Best Buy Europe retail arm in March, and that it was on track to meet full year financial targets.
CEO Charles Dunstone said: 'Both our businesses have continued to make good progress, despite the economic climate, and we are able to reiterate all the financial guidance we have given for the full year.’
The retailer’s total store portfolio grew by 1% to 2,450 including own stores and franchises.