Currys Share Discussion Threads

[mikepompeyfan] 10/8/2015 06:15

This sort of thing presents a fantastic buying opportunity.

Will be totally forgotten about by the time of the interims on 16th December.

Might top up myself.

[tim 3] 09/8/2015 19:48

Agree with that john

[jondev] 09/8/2015 15:20

It's going to be a big drop tomorrow first thing. But chances are it will recover before going ex. Could be an opportunity to top up!

[napoleon 14th] 09/8/2015 12:39

EBay had a similar problem which proved transient if properly managed...

[tim 3] 08/8/2015 22:54

Major PR disaster thisMain news story.Recoverable but Seb has work to do.

[hippo] 08/8/2015 22:23

Gonna take a hit Monday.....huge breach.....and sat on it for 3 days.....

[dlku] 08/8/2015 22:14

The chief executive of Dixons Carphone, Sebastian James, could earn up to £4.9m next year if he meets performance targets for the newly merged retail group.

James earned £1.7m in the nine months to May 2015 – his first period as boss of the group which brought together his former company, Dixons Retail, with mobile phone specialist Carphone Warehouse.

[siddle] 08/8/2015 16:16

I say get in touch with TERN Plc and get the data secured by Cryptosoft...

[someuwin] 08/8/2015 16:06

Carphone Warehouse in 2.4m customer data breach

7 minutes ago

Personal details of up to 2.4m Carphone Warehouse customers may have been accessed in a cyber-attack, the mobile phone retailer says.

Up to 90,000 customers may also have had their encrypted credit card details accessed, it said in a statement.

The affected area operates the OneStopPhoneShop.com, e2save.com and Mobiles.co.uk websites.

It also provides services to iD Mobile, TalkTalk Mobile, Talk Mobile and some Carphone Warehouse customers.

Sebastian James, chief executive of the retailer's owner, Dixons Carphone, said he was "very sorry" over the attack.

"We are, of course, informing anyone that may have been affected, and have put in place additional security measures," the chief executive said...

[mikepompeyfan] 16/7/2015 16:11

Nice touch to pay Greek staff in cash to circumvent possible banking problems.

Should engender loyalty and commitment.

[cockneyrebel] 16/7/2015 12:54

16 Jul 2015 Dixons Carphone DC. Investec Buy 459.85 461.50 510.00 510.00 Reiterates

6 Jul 2015 Dixons Carphone DC. Canaccord Genuity Buy 459.85 461.50 500.00 530.00 Reiterates


Target upgraded by Canacord

CR

[laugher] 16/7/2015 09:19

It's all in the results JW. 6p. Ex div 27/8 payment expected 25/9.

[justwondering] 16/7/2015 09:00

Will there be a dividend payment? If so does anyone know how much and when?

[muscletrade] 16/7/2015 08:53

Canaccord Genuity reiterates BUY and increases target from 500 to 530p

[manics] 16/7/2015 08:12

"No one could accuse Sebastian James, chief executive of Dixons Carphone, of being downbeat".

-what a difference a year makes!

[mikepompeyfan] 16/7/2015 08:04

Times comment this morning.

No one could accuse Sebastian James, chief executive of Dixons Carphone, of being downbeat. "This has been a terrific first year for Dixons Carphone," he declares this morning. "We have seen excellent increases in both sales and profitability and we have made very encouraging progress with the tricky job of integrating these two great companies."

With sales up 6 per cent and expectation-beating headline profit up 21 per cent - at £381 million - there is plenty for Mr James to be cheerful about.

[mikepompeyfan] 16/7/2015 07:39

Excellent report imo. Synergy savings 1 year ahead of forecasts.

Dividend up 42% which is epecially nice for former Dixons shareholders who aren't used to dividends in recent years.

Lots to look forward to.

[mikepompeyfan] 15/7/2015 10:47

From The Sunday Times 3 days ago.

DIXONS CARPHONE is on track to report strong results in its first year as an enlarged company, confounding sceptics who compared the merger to “two drunks propping each other up at the bar”.

The computer and mobile phone retailer, whose brands include Currys and PC World, is forecast to show a 6% rise in like-for-like sales when it announces full-year numbers on Thursday.

Pre-tax profits are expected to bounce from £299m to £376m, although last year’s figure is an estimate as Dixons Retail and Carphone Warehouse were operating as separate companies then.

Dixons Carphone is targeting £80m of annual cost savings as a result of crunching the businesses together. The combined group has 2,300 stores, 1,300 of them in Britain.

Despite the shift to online orders for electrical goods, chief executive Sebastian James last month told The Sunday Times he thought the model pursued by internet-only players such as Amazon and AO World was “very flawed”.

James said he was “optimistic221; that many customers would continue to visit stores for advice from staff before buying products.

He said the company also planned to compete with the likes of British Gas and HomeServe as a maintenance provider for “connected homes” in the next few years.

“When something goes wrong, you push a button on your phone and we call you back, log into your system and see what’s happening in your house,” he said. “If we can’t fix it remotely, we can make an appointment with you to fix it physically.”

Dixons Carphone signalled growing international ambitions this month when it signed a deal to open up to 500 stores across America in partnership with the telecoms company Sprint.

Dixons’ last attempt to cross the Atlantic by buying the Silo and Tipton electricals chains ended in disaster three decades ago. The Sprint joint venture was greeted with cautious enthusiasm by the City.

[cockneyrebel] 14/7/2015 08:58

Results on Thurs, first of the retailers to report after strong retail figures today:



CR

[muscletrade] 02/7/2015 14:01

Both Investec and Deutsche have issued very positive notes on this development today, and courtesy of the folks at FT Alphaville(thanks chaps)I have copied them below.(for those unable to access broker notes) Sorry, lots of writing with no pictures but cannot be helped.

Investec
Dixons Carphone has announced an agreement with Sprint Corporation to open and manage a significant number of Sprint-branded stores in the US. This should be taken positively by the market, in our view, given the emphasis management is placing on CWS as part of the long-term investment case as 1) it provides better visibility of the profitability that CWS can generate and 2) assuming a full roll-out, it could imply 6-7% upgrade to outer year numbers. Next event, prelims on July 16th. Retain BUY.

New deal announced for CWS: Dixons Carphone (“DC”) has announced an agreement with Sprint Corporation to open and manage a significant number of Sprint-branded stores in the US under DC’s Connected World Services (“CWS”) business. This should be taken positively by the market in our view.
A 2 phase deal. Under phase 1, CWS will help Sprint open 20 trial stores this calendar year, before moving into “Phase 2”. This will be a 50/50 JV ($32m investment) rolling out to 500 stores. Sprint has c. 1,000 stores & 2,000 partner stores (AT&T and Verizon each operate c. 5,000 stores, we understand). In addition, CWS will provide ongoing consultancy to the wider Sprint business.
A comparison to Best Buy Mobile implies healthy upgrades: under CPW’s prior agreement with Best Buy, CPW’s profit share was £98m based on 190 stand-alone stores, and 1,100 SWAS. Assuming similar operating metrics to those generated by that operation would imply a £35-40m profit contribution in FY18/19 – implying a c.6-7% upgrade to FY18 numbers.
No change to numbers, yet, as we prefer to wait until confirmation of the roll-out (i.e. moving into phase 2). In terms of profit contribution, it is likely to be neutral in years 1 & 2, i.e. FYs16/17, with the roll-out taking 3-4 years.
CWS a key tenet of long-term strategy. With the greater visibility of revenue and profit contribution that CWS can generate, today’s announcement should to be taken well. Next event: Prelims July 16th – INVe £375m PBT/23.8p EPS.
No changes to numbers, yet, as awaiting confirmation of the roll-out i.e. phase 2


And Deutsche

Connected World Services deal with Sprint Corporation
We view today’s announcement of a partnership between Dixons Carphone’s CWS division and Sprint Corporation as a major development for the group. We expect the deal to be earnings neutral in FY Apr-16 and Apr-17 and have left our forecasts unchanged today. However, if this develops into a joint venture and rolls out successfully across 500 stores planned in phase 2 of the relationship, this should not only underpin our long term CWS forecasts but leaves them looking conservative. Dixons Carphone remains a top pick. Buy.

It is almost four years since Carphone Warehouse sold its interest in Best Buy Mobile US & Canada. Today the merged group Dixons Carphone has announced its re-entry into the US through a combination of rolling out stores and consultancy services with Sprint Corporation. Given the company’s very successful experience in the market with Best Buy, we are hopeful that it should be able to develop these opportunities over the next few years.

Two elements to the deal with Sprint Corporation
The first step is for Dixons Carphone to provide its expertise to Sprint in the opening of 20 new stores. This expertise spans retail know-how, mobile merchandising, IT and relationships with manufacturers. These ingredients, whilst seemingly simple on some levels, underpin much of the work the company has done with other major current and historic partners including Samsung, Media Markt and Best Buy. If successful, a JV would form with the aim to roll to 500 stores. Secondly, CWS could provide consultancy services to the whole of Sprint’s large store estate.

A marathon, not a sprint
We expect the deal to be earnings neutral in FY Apr-16 and Apr-17. However, our CWS EBIT for Apr-18 of £30m and Apr-19 of £40m look increasingly underpinned. If 500 stores are rolled out, then assuming a ball-park £100-150k profit per store (a little lower than both UK Carphone and the ultimate profitability of its former JV with Best Buy, justified by the fact that Sprint stores are single network rather than multi-brand) this would represent £50-75m of EBIT to the JV and £25.0-37.5m to Dixons Carphone in the medium term. On top could come consultancy services to the rest of Sprint’s stores.

Reiterate buy, target price 525p
Our target price remains based on DCF (WACC 9.1%, RFR 4.5%, ERP 4.5%, TG 1.5%). On these new forecasts the stock trades on CY16 P/E of 15.9x, in line with the UK General Retail Sector. Downside risks include UK macro, price competition in electricals, and mobile ARPU pressure.

[tim 3] 02/7/2015 09:55

Just don't mention the "S" word lol

Joking apart looks like they are being a lot more cautious than the Silo disaster!

[mikepompeyfan] 02/7/2015 08:54

Good reaction to the news so far.

[muscletrade] 02/7/2015 07:50

Sprint have been around for many years. They have not had an easy time last few years as T Mobile, Verizon etc fight for marketshare but still have nearly 60million customers. Softbank own biggest and controlling part of them.

[cornishman33] 02/7/2015 07:36

I'd never heard of Sprint until this morning, so I checked out their website. I learn they have just launched a new ad campaign which was directed by Guy Ritchie and stars David Beckham. Here's hoping it's viewed positively. He's probably more popular over there than over here these days.