Business
Essential next step in turnaround of UK Mobile
Essential next step in turnaround of UK Mobile.
About this update from Currys Plc
[{"type":"text","content":"\n \n \n RNS Number : 3691G\n Dixons Carphone PLC\n 17 March 2020\n \n \n \n 17 March 2020\n \n Dixons Carphone takes essential next step in turnaround of UK Mobile business\n \n \n · \n \n UK Mobile to be fully joined up with wider business as customers change how they buy technology\n \n \n \n · \n \n All UK standalone Carphone Warehouse stores, representing 8% of Dixons Carphone's total UK selling space, to close \n \n \n \n · \n \n Almost 40% of affected colleagues are expected to take new roles in the business, and other colleagues will be fully supported\n \n \n \n · \n \n Mobile to be sold through Carphone Warehouse shop-in-shops in 305 big Currys PCWorld stores and online, giving customers the widest range of technology and services in one place\n \n \n \n · \n \n Today's changes are an essential next step towards making Mobile a sustainable and profitable category, and staying on track with our longer-term transformation of the Group\n \n \n \n · \n \n New mobile offer to launch later this year, offering customers flexibility, transparency, and value\n \n \n \n · \n \n Positive cashflow in every year from Mobile restructuring, expected to total c.£200m - see pg.3\n \n \n \n · \n \n The Group has not yet seen a material impact from COVID-19, though we are preparing for one - see pg.3\n \n \n \n · \n \n FY 2019/20 Adjusted* PBT still expected to be around £210m and net debt lower than last year - see pg.4\n \n \n \n Dixons Carphone is taking the next step in its transformation by joining up its UK Mobile operations with the wider business as customers change how they buy mobile devices, connectivity and technology overall.\n \n The company will close its 531 standalone Carphone Warehouse stores in the UK and focus on selling mobile devices and connectivity through its shop-in-shops in 305 big Currys PCWorld stores and online.\n The small standalone stores, representing 8% of Dixons Carphone's total UK selling space, will close on 3 April 2020. The business expects almost 40% (1,800) of affected colleagues to take new roles internally, but sadly expects 2,900 redundancies as the businesses are brought together. Dixons Carphone will go well beyond legal obligations in financial and other support for all affected colleagues. There's never an easy time for an announcement like this, but the turbulent times ahead only un...