Carphone Warehouse overcomes 'dread' in Q3
Smartphone sales and American connections are keeping Carphone Warehouse healthy, with the CEO telling investors that things are only going to get better for Blighty. The company, now split from TalkTalk, still owns half of Best Buy Europe which has already opened three UK stores and plans to open another three later this year, …
"Wireless World" sounds like the sort of shop you'd visit in the 1930s to buy a big mahogany valve set with a dial that shows places like Daventry and Hilversum.
Mind you, "Carphone Warehouse" isn't exactly up-to-the-minute. It must be about 30 years since carphones were superseded by cellular phones.
The main reason why they have managed to post such large profits considering the climate is mainly due to the massive cost cutting they have implemented within the company. Mainly on staff benefits and pay, what the rosey figures dont show is since Best Buy have infiltrated the company they have slashed commission under the guise of "improving customer relations" reduced overall pay for staff and removed about 80% of all staff benefits which long term staff have enjoyed since the inception of CPW.
Why do I know this, because me and my colleagues who work for CPW are the ones feeling the brunt of it.
i will concede that carphone had to do an element of cost cutting, but carphone warehouse had to modernise and streamline the company, it was way to bloated with too many layers
admittedly a few perks have had to be got rid off, such as bear bust. we had it good for a long time and in times of plenty the company can absorb the cost of having the whole company go out once a month for a piss up on them but over the last couple of years this had to be stopped, the ball was cancelled but is back again this october.
the best buy link in my eyes is a good thing, we have now got a partner who has very deep pockets and will in time buy the rest of the company, i also believe that the profit share that carphone has with the best buy mobile standalone stores and concessions in the states over time will eclipse the home market
i still believe in carphone and as a veteran of 9 years maintain that difficult decisions had to be made to safeguard the future of the compnay
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