Carphone Warehouse bullish after revenue bump

Carphone Warehouse has posted a 3% rise in fourth quarter revenue and says it expects full-year profits to be ahead of its own expectations.

The electronics retailer says the sales gains were driven by an upturn at its Best Buy Mobile business in the US and improved trading for its Carphone Warehouse Europe stores.

The company’s “strong performance” in the three months to 31 March, it says, has led to it making its third profit upgrade in six months, “out-performing even our expectations”.

 “The macro environment will undoubtedly present challenges but we are well positioned in each of our businesses,” according to the company’s chairman Charles Dunstone.

Dunstone oversaw the demerger of the Carphone Warehouse business from internet and telecoms business TalkTalk last year.

The group, via its joint venture with U.S. group Best Buy, opens its first Best Buy Europe store in the UK later this week.

The 52,000sq ft store opens in Thurrock, Essex on Friday 30 April and will be supported by a localised marketing campaign. 

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