Carphone Warehouse reported revenues for the last quarter of 2013 down 6.9 percent year-on-year to GBP 922 million, hurt by fewer stores, negative currency effects and a slower postpaid market. The number of connections sold in the 13 weeks to 28 December fell by 12.7 percent to 2.360 million. Like-for-like sales edged 0.7 percent higher from a year ago.
CPW said the prepay market declined more than expected, and weak consumer sentiment and the transition to 4G put a brake on postpaid sales. In its home market the UK, the company said it still outperformed the market, with like-for-like revenue growth of 5 percent and higher market share. In Europe, the company said it saw a "creditable performance" from a number of markets, particularly Spain and Ireland, and continued to make progress in Germany.
The total number of stores, including franchises, was down 2.3 percent from a year earlier to 2,043. Despite the dip in results, CPW said it still expects annual headline EBIT of GBP 140-160 million and EPS of 17-20 pence.
