Hints and tips:
...During the period DC has closed its 531 Carphone Warehouse stores, 11 days earlier than planned and will now state CPW sales on a total not LFL basis....
...“One57 is benefiting from the price standards set by 15 CPW much as 432 Park will benefit from One57’s pricing.”...
...Carphone Warehouse owns only half of CPW Europe, with the other half owned by Best Buy, which has received takeover interest from Richard Schulze, its former chairman....
...The issues were highlighted by an 18 per cent fall in CPW Europe’s customer connection numbers, which declined to 1.9m year on year....
...A lack of £100-£150 pre-pay smartphones as well as weak economies helped push down sales 5.5 per cent to £3.3bn in the year to March 31 at CPW Europe, the retail business in which Carphone Warehouse owns...
...Like-for-like sales at CPW Europe, part of the Best Buy Europe joint venture, fell 1.7 per cent during the fourth quarter compared with a year earlier, which the company blamed on “tough comparatives”....
...As part of the strategy, it is also continuing to roll out smaller Best Buy Mobile stores to malls and shopping plazas, and CPW’s Wireless World format, which sells computers alongside mobile phones....
...at Teathers said: “The weakening consumer environment and shift by mobile operators to direct distribution is impacting the Distribution business (Best Buy Europe) while slowing growth in broadband and CPW...
...Its international stores reported a comparable sales decline of 4.2 per cent, excluding the CPW joint-venture....
...In March this year, Best Buy invested $2.1bn in a joint venture that will run CPW’s European retail stores, including the opening of its first Best Buy stores in the UK next year....
...It aims to double sales and operating profits from the retail business between the year to March 2008 and the year ending March 2013, with the CPW revenues and profits as a base....
...Masele Siatu’u, CPW’s human resources vice-president, says having your elbows in flour and eggs brings together fellow employees who are dispersed across the world....
...“That’s a core underpinning hypothesis of the whole deal with CPW,” he says. The two companies, he says, currently expect this to be under a Best Buy name, but a full branding study will be conducted....
...CPW shares our passion and culture around customer excellence....
...Many of the buyers in 15 CPW have been enjoying boom times on Wall Street recently, including Lloyd Blankfein, the chief executive of Goldman Sachs, and Daniel Loeb, the hedge fund manager who paid $45m...
International Edition