Carphone Warehouse gave a gloomy outlook statement, which according to Guardian has added to the fears of a tough 18 months coming for retailers. Carphone Warehouse shared dropped 10% after its own admission that it faced a poor economic climate.
The retailer blames the reduction in subscribers to its broadband service on fewer people moving house. Broadband is a key area for Carphone Warehouse and was the portion of its business it didn’t sell to Best Buy in a deal last month.
Carphone Warehouse saw rapid growth in the last few years making it the UK’s third largest broadband provider. Despite the deal with Best Buy Carphone Warehouse will take a cautious approach to the next year.
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