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Distressed retailer Dixons Carphone – reportedly the object of activist investor Elliot Management's affections – today confirmed a 7 per cent tumble in mobile phone sales over the festive period.
In a trading update to the London Stock Exchange this morning, Dixons reported flat sales for the 10 weeks ended 7 January as gains in TVs, Smart Tech and gaming just offset weak handset shipments.
UK - Ireland - Consumer - Electronics - Cent
UK and Ireland consumer electronics were up 2 per cent, "despite a challenging backdrop and a declining market", said group CEO Alex Baldock. Dixons claimed it took market share from both online and bricks-and-mortar rivals to maintain its position.
Dixons added that mobile phone sales came in "as expected". This isn't a new problem for DixCar: mobile phone sales slumped in fiscal '18 ended last summer, forcing the retailer to issue a profit warning, close 92 stores and ultimately led to a write down of goodwill equating to hundreds of millions of pounds.
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