Carphone Warehouse Q1 2011/12 results: weak start to the year

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Carphone Warehouse Q1 2011/12 results: weak start to the year

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Carphone Warehouse Q1 2011/12 results: weak start to the year
CPW Europe had a weak first quarter, with like-for-like revenue growth of -3.3%, with all of the drop coming from the 18 to 24 month contract length shift in the UK
We expect its performance to improve through the rest of its fiscal year, but it will need to in order to hit even the bottom end of its full year guidance
The US mobile retailing operation is doing much better, with very strong revenue growth, and is likely again to exceed full year guidance