Dixons Carphone reports "good start" but mobile sales drop

 
Joe Hall
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Dixons Carphone plc to join the FTSE 100 on 22 September (Source: Getty)

Dixons Carphone will breeze into the FTSE 100 on 22 September, the newly formed company announced today.

The £3.6bn merger of Dixons Retail and Carphone Warehouse was completed on 7 August, and the company says it has made a "good start" in the period since.

Dixons Retail recorded a four per cent increase in like-for-like sales for the quarter ended 2 August, however Carphone Warehouse like-for-like sales were down six per cent from last year's strong 13 per cent.

Chief executive Sebastian James said:

I am pleased to report a good start to the year and to our new shared enterprise. Dixons Carphone looks to be in excellent shape to tackle the perpetually shifting sands of the market and to achieve its goal of improving our customers' lives through technology.

The integration is going well with seven departments now serving both parts of the business in an integrated way and, although it is early days, our 11 stores-in-store are performing ahead of the business case that we set out in our merger announcement.
The group has been opening Carphone shops inside Dixons Currys and PC World stores. Last month James told City A.M. that he hoped to have 30 open by Christmas.
Dixons Carphone has 2,900 stores across 14 countries with 40,000 employees. It is expected to generate £12bn in annual turnover.

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