Carphone Warehouse stores under threat after closures announcement

PUBLISHED: 16:08 30 May 2018 | UPDATED: 16:08 30 May 2018

Carphone Warehouse. Picture: Michael Boyton

Carphone Warehouse. Picture: Michael Boyton

Archant

Carphone Warehouse, with stores in Welwyn Garden City, Hatfield, St Albans, and Stevenage, has announced 92 closures.

The mobile phone company, which merged with Dixons to become Dixons Carphone in 2014, announced the closures on May 29.

The announcement is bound to worry staff in Carphone Warehouse stores in Welwyn Garden City’s Howard Centre, Hatfield’s Galleria, St Peter’s Street in St Albans, as well as sites at Stevenage town centre and Roaring Meg retail park.

Looking to 2019, the company is budgeting for a contraction in the electrical goods market and predicts a fall in gross profit margins.

Although the company has maintained its leading market share, the company in the UK has seen little recent revenue growth compared to its international business.

The market for phone contracts has shrunk as more people reach for prepay.

Chief executive officer Alex Baldock said: “Nobody is happy with our performance today.

“We won’t tolerate our current performance in mobile, or as a group.

“We know we can do a lot better.”

Mr Baldock, who took up the post in January, said he had appointed a new leadership team and a new structure, and is nonetheless optimistic for the company as a whole.

He said: “I’ve found exceptional strengths, and though there’s plenty to fix, it’s all fixable.”

The company also previously had a store on Bancroft in Hitchin, which closed.

Carphone Warehouse will make further announcements on June 21, but has not yet said when it will announce which stores it plans to close.

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