Pricier smartphones and lower European Union roaming charges will dampen Dixons Carphone's bottom line, the retailer's CEO warned today in an unscheduled trading update that sent its share price crashing by 30 per cent.
He added: "Whilst this investment will cause a shortfall in profits for our phone business we do however expect overall profit in our core retail operations to be in line with previous year supported by good progress in our UK & Ireland, Nordic and Greek electrical businesses". Annual profits are now expected to be considerably down on previous year.
The weakness of sterling since last year's Brexit vote has pushed the price of new handsets up by as much as a fifth. Shares fell by up to 32%, as more expensive phones and a lack of new, hot products deterred Brits from upgrading handsets.
Chief executive Seb James said: "Over the last few months we have seen a more challenging United Kingdom post-pay mobile phone market".
"The smartphone market is now more dependent on new devices that offer something different, as users are extending their purchasing cycles and need to be enticed to make a replacement", said research group Gartner. Analysts had on average been forecasting a profit of £495m.
In an unscheduled statement, Dixons Carphone said it has seen a "more challenging" environment in the British cellphone market as a result of currency fluctuations that have made handsets more expensive and a slower pace in technical innovation.
The launch of Apple's iPhone 8 is expected to be more fruitful than its direct predecessor but perhaps not as much of a pull as the sixth generation.
"U.S.ad spend might come back if Trump growth hopes are delivered, and consumer goods companies may increase spend again but structural concerns remain", analysts at Investec said in a note.
"This is just simply because we believe the iPhone 8 to be a much better phone than the current version".
The company had dismissed the Brexit effect on its business in previous communications with investors some months ago, despite tech vendors including Dell, HP and Lenovo raising prices due to the weakened state of the British pound relative to the USA dollar.
The New York Times reported that police transported members of Allah-Las away from the venue when the event was canceled. They later found bomb-making equipment that included more than 100 tanks of butane gas, nails and 500 liters of acetone.
Over the last three months, the shares of the company have changed -4.02% and performed -14.14% over the last six months. The rating scale runs from 1 to 5 with 5 indicating a Strong Sell, 1 indicating a Strong Buy and 3 indicating a Hold.
The move followed an agreement with Amazon.com (NASDAQ:AMZN) to sell Kenmore appliances on the website. On the list are Kmart stores in Allentown and Willow Grove, Pa., but none in Maryland or West Virginia.
The little girl's mum was being interviewed by Alastair Stewart about new guidelines on testing for milk allergies in babies. The newsreader was in conversation with Lucy Wronka and her young son George about milk allergies during the 1pm update.
Chattrapati had reported on the "nefarious" happenings within the Dera Sacha Sauda and he was receiving threats for some time. In December that year, the CBI booked Singh for rape , criminal intimidation and acts meant to insult the modesty of a woman.
Coach Ben McAdoo would only say on Tuesday that they'd see "how [Beckham] responds to treatment". "I don't know. According to the report , Beckham missing the first couple of weeks of the season is "not out of the question".
Thorpe urged people to either enrol or ensure their details were correct on the Australian Electoral Commission website . Meghan was horrified when she was alerted to the misappropriation, posting her full support for LGBT marriage.
Taylor Swift's new single will be released Thursday night, August 24, but Swift did not reveal the name of the new song. The sources went on saying that the music video is eye-catching, adding that Taylor Swift was being secretive about it.