Dixons Carphone share price rises after announcing US expansion with Sprint Corporation

 
Joe Hall
Follow Joe
Dixons Carphone will open Sprint-branded telecoms stores in the US (Source: Getty)

Dixons Carphone is heading across the pond.

The group's Connected World Services division has teamed up with American telecoms company Sprint with plans to open up to 500 stores across the States.

Read more: Dixons Carphone ups full-year profit forecast

Chief executive Sebastian James has already been named the most powerful person in British retailing, and looks set to extend his influence abroad with an initial 20 stores to be opened under the Sprint brand.

A $32m (£20.5m) investment from Dixons Carphone for a 50 per cent stake in the venture will support a further roll out if the stores are successful.

Dixons Carphone is the FTSE 100's biggest risers on Thursday morning, with shares gaining over three per cent in early training.

Andrew Harrison, head of Dixon Carphone's Connected World Services division, commented:

This is a very exciting venture for us, and is a significant step in growing our Connected World Services business in the US. We bring specialist knowledge and skills to this partnership and will be looking to deliver innovation and outstanding customer service under the Sprint brand.

Since the £4bn merger between Dixons Retail and Carphone Warehouse created a new retail powerhouse last year, Dixons Carphone has been making ambitious plans to take over the high street.
Full-year profit expectations for the current financial year have been upped to £375m, and it has looked to grow with plans to launch its own mobile service to customers.

Related articles