Retailer Dixons Carphone has today reported higher sales at its electrical division in 17 weeks to August 29, powered by a jump in online shopping due to coronavirus curbs, offsetting a revenue slump at its UK & Ireland mobile phone division.
The group trades as Currys, PC World and Carphone Warehouse in Ireland and the UK.
It posted a 12% rise in like-for-like revenue at its UK and Ireland electricals division during the period, but total revenue from its UK and Ireland mobile phone division plunged 56%, it said in a statement.
The company in April said online sales in the UK and Ireland for products connected to working from home such as computers, and home appliances, including refrigerators and breadmakers, had surged during the initial period of lockdown.
Lockdowns have buoyed online purchases, prompting Morgan Stanley to nearly double its forecast for US online sales growth to 25% this year.
"We've started the year well, but nobody knows what the future holds and, like many, we remain cautious in our outlook," group chief executive Officer Alex Baldock said.
Dixons has been struggling with its loss-making mobile phone business, which slumped as customers changed their handsets less frequently.
The company also said it was in early stages of exploring the listing of a minority stake of its Nordic business next year as the division has performed strongly even during the Covid-19 crisis.
Online sales at the Nordic business jumped 49% in the 17 weeks to August. 29, and the company said that while the review is in early stages, the listing could further strengthen capital structure.