British retailer Dixons Carphone has seen sales rocket during Christmas as online growth of 121 per cent balanced out store closures.
Like-for-like electrical sales increased 11 per cent over the festive period as shares rose by 2.8 per cent, the group announced on Wednesday.
Dixons Carphone, who trade as Currys PC World and Carphone Warehouse in the UK, forecast full year profits in line with market expectations despite high street closures.
The group insists that there is still life in in-store sales once Covid-19 restrictions are eased, despite 40 per cent of customers now choosing to shop online.
Alex Baldock, CEO of Dixons Carphone, said: “We have performed well by winning online and bringing the best of physical and digital together as one.
“Online and stores are stronger together and the sustainability of physical sales is helped by online business.
“People value the face-to-face advice of someone they trust and if a customer wants to get hold of a product straight away, they can do that by coming in store.
“If shops are quiet, colleagues can still use our online platforms to help customers digitally.”
Online trading thrives
Dixons Carphone continued to provide 24/7 video shopping throughout the pandemic, as well as their returns and repairs services.
Computing sales were strong, with PlayStation 5, XBOX Series X and Nintendo Switch the best performers.
Premium TVs flew off the virtual shelves as customers looked to boost their home cinema experience.
Coffee machines, smoothie makers and home baking products also proved popular as cafes shut across the country.
John Moore, senior investment manager at Brewin Dolphin, said: “Trading at Dixons Carphone was strong over the peak Christmas trading period, despite the obvious challenges that lockdown measures presented to its business.
“The retailer continues to learn from consumer changes and with strategic progress at its mobile division seemingly on track, it could move from high street survivor to high street winner over the longer term.”
The group also revealed the appointment of Tesco finance director Bruce Marsh as its new chief financial officer to replace Jonny Mason.