GENERAL MERCHANDISE NEWS
Carphone plans US expansion
24 April, 2007 | by Retail Bulletin
Carphone Warehouse said it plans to open as many as 200 stores in the US over the next 18 months in conjunction with US retailer Best Buy.
In a strategy update today, Carphone Warehouse said a 5-month US trial had produced ‘encouraging’ results and that it would now open between 150-200 outlets in existing Best Buy stores before the end of 2008. In addition, chief executive Charles Dunstone said the company will be targeting 3.5m broadband residential customers and 4.5-5m residential customers in total by March 2010.
Revenue growth at the UK fixed line business is expected to be around 45 per cent, with margins growing by some 7% from about 1.5% as it benefits from increasing scale and the migration of customers to unbundled lines.
