Dixons Carphone investors keen to hear more on rebranding plans and restructuring programme amid worries on potential budget overspend
All eyes will be on Dixons Carphone next week to see if it has managed to maintain its online momentum.
The electrical goods seller which is changing name to Currys in October is expected to post £151million in profits and a doubling of online sales to around £4.5billion for the past year after it saw its online strategy shift accelerated by the pandemic.
Sophie Lund Yates, analyst at Hargreaves Lansdown, said: ‘Covid meant the electrical equipment specialist had to speed up its pivot to digital.
Rebranding: Dixons Carphone is changing name to Currys in October
‘The group has doubled down on its online service proposition, launching its ShopLive function, which connects customers to a real-life store assistant for help and product demonstrations.
‘We wonder if this has helped keep online momentum moving in the right direction, even as restrictions ease.’
The firm made a number of successful strategic decisions during the pandemic, including closing its airport store business Dixons Travel after it was hammered by the lack of travellers and the end of tax-free tourist shopping.
Investors will also be keen to hear more details about the company’s rebranding plans.
They will be looking for how the company’s restructuring programme is panning out as well.
The plan includes closing all standalone Carphone Warehouse stores and integrating them into Dixons and Currys PC World shops.
Worries are that this plan is running over budget.
However, the listed company will change its name from Dixons Carphone to Currys in October following its annual general meeting.