Dixons Carphone CRISIS: Mobile giant reports 24% fall in profits as 100 stores TO GO
ELECTRICAL retailer Dixons Carphone has reported a 24 percent fall in profits to £382 million for the year to April 28 and has warned that profits will fall again in the year ahead.
Carphone Warehouse is a subsidiary of Dixons Carphone with over 2,400 stores
The retailer's results come a week after it revealed a major cyber attack.
Alex Baldock, chief executive of Dixons Carphone, said the company had "plenty of work to do" in the wake of the attack, which saw 5.9 million customer bank card details and 1.2 million personal data records hacked.
Dixons said profits for 2018-19 would be £300 million, representing a fall of 22 percent.
The group revealed plans to close nearly 100 stores last month and warned over the expected profits hit for the new financial year as it braces for a slowdown in the UK electricals market and cost increases from the national living wage and IT depreciation.
More to follow...