TV Sales For World Cup Help Dixons Carphone Hit Profit Targets

Dixons Carphone said that sales of TVs during the World Cup helped it meet quarterly forecasts.GETTY IMAGES

British electrical and mobile phone retailer Dixons Carphone said on Wednesday that it is "on track to make its full year profit targets" as sales of TVs during the FIFA World Cup "helped it meet quarterly forecasts," according to James Davey of REUTERS. The group, which issued a "huge profit warning" in May, said that like-for-like sales were flat in the 13 weeks to July 28, its fiscal first quarter. Sales on the same basis were flat in the U.K. and Ireland. The group maintained its forecast for a full '18-19 year pretax profit of around £300M ($388M), down from £382M ($494M) made in '17-18. Shares in the group, down 18% so far this year, closed Wednesday at 164.2p, valuing the business at £1.9B ($2.4B) (REUTERS, 9/6). In London, Ben Woods reported while the World Cup boosted sales of TVs, the "rise was countered by weaker uptake for white goods and computer products" (TELEGRAPH, 9/6).