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Brexit? We have heard of this, says Dixons Carphone CEO

'No detectable impact' on consumer cash splash after vote to leave EU

UK pound crashes after Brexit

The UK's vote to leave the European Union has not dampened UK shoppers’ gadget lust, according to Dixons Carphone, which has reported a four per cent year-on-year hike in Q1 sales for the 13 weeks ended 30 July.

The consumer electronics and mobile tech borg, created in 2014, saw sales bounce across the entire group – led for the first time in some years by the outlets in Southern Europe.

The UK and Ireland wing grew like-for-like revenues four per cent, by two per cent in the Nordics, 13 per cent in Southern Europe and the Connected World Services (CWS) reported expansion of 45 per cent, albeit off a far lower base.

Group CEO Seb James said it had seen “no detectable impact of the Brexit vote on consumer behaviour in the UK”.

The man talked up the retailer’s “ambitious programme of development” for fiscal ’17, including fitting out more 3-in-1 stores (PC World, Currys and Carphone Warehouse) and a shiny product warehouse in Sweden.

A deal with TalkTalk will see DixCar expanding distribution in its stores and the pipeline for omnichannel platform honeyBee is swelling, the company claimed.

The collapse of rivals Comet and Phone4U gave consumers fewer options on the High Street/ retail trading parks and certainly helped pack more punters into Dixons Carphone.

James said the group was “optimistic about the future and our ability to continue to outperform, without in any way being complacent. We live in a world with increasingly discerning customers and with more moving parts than ever and we will continue to succeed only by remaining nimble”. ®

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