Carphone reports 13% revenue surge
Monday, November 30th, 2009Reports from Carphone Warehouse report a 13% year on year growth in revenue to £789m for the six months ending on 30 September.
The growth represented performance across the company’s two main arms of business – broadband and retail.
Carphone Warehouse chief financial officer, Roger Taylor, said the independent retailer has had a ‘very strong start to the year,’ adding that ‘revenue growth has been slightly ahead of expectations’.
Best Buy
At the start of 2009 Best Buy Canada got in Partnership with Carphone warehouse, this partnership lead the opening of Best Buy Mobile “Store Within a Store” at all Best Buy locations. During October 2009, the website BestBuy.com had a face-lift. The font used in the site was changed to the font seen in the alternative logo that appeared in 2008.
Best Buy operates numerous Best Buy Mobile stores within the U.S. as a joint venture with The Carphone Warehouse, there are currently 13 of these stand-alone stores, mainly in Manhattan.
Best Buy Mobile connections increase by 2%
Best Buy Europe in which Carphone has a 50% share, grew 4% year on year from £1,617m to £1674m, with mobile connections growing by 2% to 5.9 million during that period.
Best Buy has had a massive impact on CPW revenue, which is no surprise when you look at the array of services and products offered.
Services/Products:
- Wider variety of mobile phones than other telecom stores
- ‘Unlocked’ phones that can be used on any GSM network
- Products included, Computers, Home Theaters, Musical Instruments, Cameras, Camcorders, Mobile Phones, iPods, MP3 players, Music, Movies, Video Games, Home Appliances, GPS Systems and more
- Best Buy continues to wow customers with some of the most impressive Cyber Monday deals & discounts yet on everything in their store – discounts go has high as $1000 off a selection of very popular products
Best Buy Mobile also offers services similar to those from carrier stores, including, warranty service on any phone, loan phones, and the most popular carriers.
Carphone and ‘Big Box’ Stores
The company is also on track to open its ‘Big Box’ stores in Spring 2010.
Carphone Warehouse CEO, Charles Dunstone said: ‘Within Best Buy Europe we maintain our guidance for full year operating free cash flow of £50m, after all “Big Box” investment. We also now expect our share of net income for the full year to be at the top end of the existing £30m to £40m guidance range.
‘Our guidance for Best Buy branded “Big Box” store openings remains unchanged. We remain fully on track to open our first stores in Spring 2010 and we are making good progress in finalising further store openings.
‘In the US, Best Buy Mobile continues its very strong development and we remain confident in our guidance for a material increase in its profit contribution in the current financial year.’
There is a big push on all electrical products not just mobile phones, CPW have also reported a positive feedback for its ‘Wireless World’ stores and said it expects to see increased numbers by March 2010.






