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Market Commentary

​​Weekly Retail & Leisure News - 22 December, 2014

Dixons Carphone reports strong H1 performance, as Decathlon eyes expansion

Newly merged Dixons Carphone has reported a "barnstorming performance" in the UK and Ireland in its first set of half-year results. In the six months to November, the electronics retailer said underlying profit before tax rose 30% to £78m. The firm was created by the merger of Dixons Retail and Carphone Warehouse. The company, which owns the brands PC World and Currys, as well as Carphone Warehouse, said group sales had risen 5%. Shares rose more than 3% on Wednesday, closing at 439.70p. In the UK it saw strong sales of white goods and TVs, with a particularly good performance in high-end TVs.

Further evidence of the strengthening UK retail market is highlighted by the expansion plans of French sports retailer, Decathalon. Thibaut Peeters, UK chief executive of Decathlon, commented last week that the retailer is going to open over 50 stores in the next three years and also said there was potential for up to 100 stores. Decathlon has been in the UK since 1999 and its warehouse-style format, which is almost identical to those it operates in France, has doubled its store count from just nine stores in 2009.

In other leisure news, JLL has this week announced that it has further strengthened its F&B team
. Leading restaurant & leisure agent Michael Webb has been recruited to bolster the Central London advisory team. This follows on from JLL’s recent acquisition of Coverpoint, the leading foodservice consultancy. Michael joins from property consultancy CWM, where he led the restaurant & leisure team for 4 years. Michael joins the team as a director and will be focussing on strengthening JLL’s food service expertise in London. From all at JLL, we wish you a very Merry Christmas and a Prosperous New Year.

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