THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Dixons Carphone swings to first half loss

Dixons Carphone has swung to a first half pre-tax loss following the booking of £490 million in exceptional charges.

ELECTRICALS

Dixons Carphone swings to first half loss

Dixons Carphone has swung to a first half pre-tax loss following the booking of £490 million in exceptional charges.

In the six months to 27 October the company reported a statutory pre-tax loss of £440 million compared to a profit of £54 million in the same period in the prior year. Meanwhile, headline pre-tax profit came in at £50 million compared to a previous £73 million.

Group revenue rose to £4.89 billion from £4.87 billion in the prior year and by 2% on a like-for-like basis. Revenue at its UK and Ireland electricals business increased by 2% and by the same percentage on a like-for-like basis. Dixons Carphone said the UK and Ireland uplift was driven by an increase in consumer electronics as well as strong gaming growth as the retailer rolled out gaming stations in seven stores.

Alex Baldock, Dixons Carphone’s recently joined chief executive, said: "We believe that Dixons Carphone is now on the path to sustainable success. We have set a clear long-term direction that will deliver more engaged colleagues, more satisfied customers and a more valuable business for shareholders.”

Baldock also laid out the company’s strategy for creating a more valuable business. This includes taking advantage of growth opportunities in online sales and credit, revitalising its mobile business, and making it easier for customers to shop with Dixons Carphone.

Looking ahead, he added: “There are headwinds and uncertainty facing any business serving the UK consumer, we've had our own challenges, and our plan will take time. But, with this plan, we can now see the way to unleashing the true potential of this business. We believe in our plan, are underway making early progress and determined to make it a lasting success."

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process