Carphone Warehouse 2009 Annual Report Download - page 19

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www.cpwplc.com 15
Directors’ Report –
Business Review
Directors’ Report – Business Review
Best Buy Europe
Best Buy Europe, in which the Group
has had a % share since  July ,
encompasses our retail operations
across Europe and our share of profits
in Best Buy Mobile in the US.
During the year we have made significant progress in evolving our existing
customer proposition and product mix beyond mobile phones to include mobile
broadband, laptops and other connected devices. We have not only broadened
the offer in our small stores but also introduced a slightly larger format,
“Wireless World”, which embraces gaming and an extended laptop offer, as
well as a Geek Squad technology support presence.
We have also laid the foundations for our Big Box consumer electronics format,
which we plan to launch in the UK in spring 2010.
▪
Revenue up 15% to £3,563m,
driven by market share gains
and currency movements
▪
Headline EBIT down 33% to
£101m, reflecting the tough
economic environment
and our pursuit of market
share gains
▪
£7m of opex relating to the
Big Box project
▪
First-time contribution of £8m
from Best Buy Mobile, a year
ahead of plan
▪
Roll-out of laptop proposition
to all UK stores and the
majority of European stores
▪
Estimated 5% UK laptop share
from a standing start
▪
Strong growth in handset
market share
▪
Very strong growth in
strategically important
products such as mobile
broadband and smartphones
▪
First new format mid-sized
stores opened, with a further
30-40 to follow this year
Financial Performance
Operational Highlights
Best Buy
Europe