News: Follows Black Friday and Christmas sales jump.
Dixons Carphone is to merge its remaining PC World and Curry’s stores, with 134 stores set to close as part of the merger process.
However, group chief executive Seb James told BBC Radio 5live that there no job losses expected as a result of the merger, saying: "We are very confident that the impact on sales and colleague numbers will be neutral or better."
The group chief executive went on to say that the combined stores would offer a ‘3-in-1 superstore’ which would result in more sales, which would therefore require more staff on the shop floor.
The company has estimated that £50m will be invested to refit the stores, with an additional £70m put aside to cover shop closures and other costs. The company hopes this planned merger will pull in extra profit of £20m annually from 2017 onwards.
The merger of the two stores follows a record Black Friday and strong Christmas trading for Dixons Carphone. Beating analyst expectations of 3%, the group saw sales at stores open over a year rise 5% in the 10 weeks to Jan. 9. Overall, the company expected a 2015 – 2016 pre-tax profit of between £440m and £450m.
On Black Friday, the company took £140m with a large proportion of sales made online. James told BBC 5live that this online move by the customer was ‘quite sensible’, as ""customers saw the scenes that were quite disruptive in some supermarkets last year and decided, I’ll play it safe this year and just shop online".
Dixons Carphone was formed in 2014 when Carphone Warehouse and Dixons merged in a deal worth £3.8bn. Last year the company signed a deal to run a joint venture with US telco giant Sprint, in which 200 retail stores were planned. Dixons Carphone has also recently signed a new distribution agreement with TalkTalk in the UK.