Dixons Carphone narrows profit forecast

Saw a 4 per cent rise in revenues over Christmas

Dixons Carphone has reported a 4 per cent rise in revenues during the festive period. However, the high street retailer has narrowed its profit outlook for the full-year saying it will make a profit before tax of between £365m and £385m, down from a previous estimate of £360m to £400m.

Chief executive Seb James announced today that the group’s Boxing Day sales had not quite matched “the promise of our very strong Black Friday week” but he was confident that the group had managed to grow market share “in pretty much every category”.

Meanwhile, Dixons Carphone’s sales in the UK were also bolstered by better iPhone X availability.

“Looking forward we continue to keep our antennae twitching for any material change in consumer behaviour, but remain relentless in our focus on providing the best value, choice, and service to our consumers,” James added.

The FTSE 250 retailer also announced that James would be stepping down from his role as CEO after six years to join Boots.Alex Baldock will replace him from April.

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