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Currys PC World sees online sales double during pandemic

Currys PC World sees online sales double during pandemic
The company said its mobile phone business, Carphone Warehouse, suffered following store closures.

The company behind Currys PC World has revealed it managed to more than double online sales of electronics as it shifted seamlessly to operating an improved web model during the pandemic.

Online electricals sales for Dixons Carphone hit £4.3 billion in the year to May 1, including a 114% increase in online sales in the UK of £3.4 billion.

Bosses said the strong rise was due to offering online live chat functions with staff in stores, allowing customers to get real-time advice via video services.

As gevolg daarvan, its total share of the online electricals market grew six percentage points over its rivals.

But the company’s phone business, Carphone Warehouse suffered heavily as the impact of store closures announced in March last year took its toll.

Revenues from mobiles fell 55% with a £117 million loss.

The strong year for Dixons Carphone – which is due to change its name to Currys Plc in September – came despite it being forced to close stores for large parts of the pandemic.

Total sales rose 2% to £10.3 billion with pre-tax profits hitting £33 million – up from a pre-tax loss a year earlier of £140 million. Sales in electricals rose 14% but the total fell back due to the falling sales in the mobile division.

As a result of the performance, the company confirmed it has repaid £73 million claimed under the Government’s furlough scheme and a £144 million VAT deferral bill.

Following the repayments, bosses also revealed they will start paying a dividend to shareholders of 3p a share – worth around £34.7 million.