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Dixons Carphone

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Dixons Carphone plc
Public limited company
Traded asLSEDC.
IndustryConsumer electronics
PredecessorDixons Retail
Carphone Warehouse Group
Founded7 August 2014; 5 years ago (2014-08-07)
HeadquartersActon, London, United Kingdom
Number of locations
2,139 stores (2017)[1]
Area served
United Kingdom, Ireland, Mainland Europe
Key people
Ian Livingston
(Chairman)
Alex Baldock
(Group Chief Executive)
RevenueDecrease £10,433 million (2019)[2]
Decrease £322 million (2019)[2]
Decrease £(320) million (2019)[2]
Number of employees
42,000 (2019)[1]
Websitedixonscarphone.com

Dixons Carphone plc is a British multinational electrical and telecommunications retailer and services company headquartered in London, formed on 7 August 2014 by the merger of Dixons Retail and Carphone Warehouse Group. It is listed on the London Stock Exchange, and is a constituent of the FTSE 250 Index.

The company operates under a number of brands in the United Kingdom, Ireland and mainland Europe. These include Currys, PC World, Team Knowhow and Carphone Warehouse in the United Kingdom; Dixons Travel in airports in the United Kingdom, Ireland and Oslo; Currys PC World and Carphone Warehouse in the Republic of Ireland; Elkjøp in Norway; Elgiganten/Gigantti in the other Nordic countries; and Kotsovolos in Greece.

History

Following shareholder agreement in July 2014, the £3.8 billion merged entity was launched on 7 August 2014; on the first day of trading the shares in the merged business were owned 50:50 by the former Dixons Retail and former Carphone Warehouse shareholders.[3][4] Carphone Warehouse's Sir Charles Dunstone was appointed chairman, and Sebastian James became Chief Executive.[5]

On the first day of trading, the company opened Carphone Warehouse concessions in seven PC World or Currys stores.[6] In December 2016, Dixons and SSE, a domestic energy supplier, announced a partnership to provide "connected home" services in the United Kingdom.[7]

In January 2018, Sebastian James resigned as Chief Executive to become President and Managing Director of Boots UK.[8] Alex Baldock left his previous role as Chief Executive of Shop Direct (the company responsible for brands such as Very and Littlewoods) to succeed James as Chief Executive of Dixons Carphone.[9]

In March 2019, Dixons Carphone was given a £29.1m fine from the Financial Conduct Authority (FCA) for mis-selling its Geek Squad service. The FCA found that the company's staff were trained to sell the service to customers who already had an insurance cover.[10] During the period under investigation, between 1 December 2008 and 30 June 2015, Carphone Warehouse sold Geek Squad policies worth more than £444.7m.[11]

Dixons Carphone did not contest the FCA's findings and qualified for a 30% discount, reducing the fine from £41.6m.[12] In June 2019, shares in Dixons Carphone fell almost 20% following a significant decline in full year profits, mainly caused by consumers' growing delay in upgrading their mobile phones.[13]

Operations

The company owns the following brands:[14]

United Kingdom and Ireland

  • Carphone Warehouse – mobile phone retailer
  • Currys – specialises in home electronics and household appliances
  • PC World – specialises in computing; increasingly combined with Currys in dual branded stores
  • Team Knowhow (rebranded from Knowhow in July 2017) – a provider of after sales product support and cover; provides home delivery, installations and repairs
  • Dixons Travel – a retailer operating in the main airports in the United Kingdom, Dublin Airport in Ireland, and on board P&O's cruise ship Ventura
  • iD Mobile – a 4G mobile network operator (United Kingdom)

Northern Europe

The KnowHow brand is also present in the Nordic stores.

Southern Europe

  • Kotsovolos – sells home electronics and household appliances in Greece

Data security breaches

The group was fined £400,000 by the Information Commissioner in January 2018, as a result of unauthorised access to the personal data of over three million customers in 2015.[15]

A further security breach, said to affect 1.2 million customers, was reported by the company in June 2018.[16] The number of customers affected was later increased to ten million.[17]

References

  1. ^ a b "Year In Review". Dixons Carphone. Retrieved 9 August 2017.
  2. ^ a b c "Annual Report and Accounts 2018/19" (PDF). Dixons Carphone. Retrieved 1 March 2020.
  3. ^ "Dixons and Carphone warehouse merge to exploit internet of things". Marketing Week. 15 May 2014. Retrieved 1 September 2014.
  4. ^ "Dixons and Carphone Warehouse shares drop on merger". BBC News. 15 May 2014. Retrieved 15 May 2014.
  5. ^ Ruddick, Graham (15 May 2014). "Carphone Warehouse and Dixons agree £3.8bn merger". Daily Telegraph. Retrieved 15 May 2014.
  6. ^ "Dixons Carphone unveils new stores". BBC News. 7 August 2014. Retrieved 7 August 2014.
  7. ^ "Dixons Carphone joins with energy supplier SSE for UK 'connected home' venture". Reuters. 14 December 2016. Retrieved 18 November 2019.
  8. ^ Slawson, Nicola (20 January 2018). "Dixons Carphone CEO will step down to run chemist chain Boots". The Guardian. ISSN 0261-3077. Retrieved 21 February 2019.
  9. ^ Boland, Hannah (19 January 2018). "Dixons Carphone hires Shop Direct's Baldock to top role after chief executive quits for Boots". The Telegraph. ISSN 0307-1235. Retrieved 21 February 2019.
  10. ^ Jahshan, Elias (13 March 2019). "Dixons Carphone slugged with £29m fine for mis-selling mobile insurance". Retail Gazette. Retrieved 9 December 2019.
  11. ^ "Geek Squad fine over insurance mis-selling". 13 March 2019. Retrieved 9 December 2019.
  12. ^ Chapman, Ben (13 March 2019). "Dixons Carphone fined £29m for pushing phone insurance customers didn't need". The Independent. Retrieved 9 December 2019.
  13. ^ Kollewe, Julia (20 June 2019). "Dixons Carphone reveals big losses at mobile phone shops". The Guardian. ISSN 0261-3077. Retrieved 4 December 2019.
  14. ^ "Brands". Dixons Carphone. Retrieved 18 March 2017.
  15. ^ "Carphone Warehouse fined £400,000 after serious failures placed customer and employee data at risk". ICO. Information Commissioner's Office. 10 January 2018. Retrieved 13 June 2018.
  16. ^ "Investigation Into Unauthorised Data Access". Investis. RNS London Stock Exchange. 13 June 2018. Retrieved 13 June 2018.
  17. ^ "Nine million more hit by Dixons data breach". BBC News: Business. 31 July 2018. Retrieved 1 August 2018.
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