Carphone Warehouse sees strong start to year

The Carphone Warehouse Group (CPW) this morning reported that growth in sales of smartphones and good initial trading at its newly-launched Best Buy JV helped like-for-like revenues grow 3.7% at constant currency rates. The three recently-opened UK Best Buy stores enjoyed a "successful launch&q

Carphone Warehouse.JPGThe Carphone Warehouse Group (CPW) this morning reported that growth in sales of smartphones and good initial trading at its newly-launched Best Buy JV helped like-for-like revenues grow 3.7% at constant currency rates.

The three recently-opened UK Best Buy stores enjoyed a "successful launch", CPW said in a statement.

The firm plans to open three more stores in the format, alongside an e-tail outfit, during 2010

"We are benefiting from the increasing penetration and usage of smartphones and the cascading of smart features into phones at all price points," said CEO Roger Taylor.

"We've had a good start to the year, meeting our expectations and enabling us to reiterate the full-year guidance we gave in April," he said.

Speaking to Dow Jones Newswires this morning, Taylor said he was increasingly optimistic that the UK would avoid a double dip recession.

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