Carphone Warehouse boosted by smartphones
CARPHONE Warehouse beat quarterly revenue forecasts, boosted by demand for smartphones, and said its megastore partnership with US group Best Buy had a successful launch.
The British group it remained cautious about the economic environment but was confident of achieving the full-year guidance it outlined in April.
Sales at stores open at least a year rose 3.7 per cent at constant currencies in its main European business in the 13 weeks to 3 July, its fiscal first quarter, ahead of analysts’ average forecast of two per cent in a company poll.
Connections at the Best Buy Mobile US business jumped 29.7 per cent to £1.43m, beating its full-year guidance for growth of 15-20 per cent.
Carphone also said the three new Best Buy-branded electrical goods megastores that it has opened in Britain since April had enjoyed an “extremely positive” customer response.
However, it did not provide any figures.
“We have made a good start to the financial year and despite our continued caution on the economic environment we remain confident of achieving the full year guidance that we set out in April,” it said.