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Greek crisis a 'blip', says top Dixons Carphone executive | Greek crisis a 'blip', says top Dixons Carphone executive |
(about 1 hour later) | |
Dixons Carphone has dismissed the Greek crisis as a “blip” and insisted it is committed to the country, where it runs nearly 100 stores as Kotsovolos . | |
Andrew Harrison, Dixons Carphone deputy chief executive, said: “We anticipate this is something that will get resolved by the weekend. It’s been a very strange and interesting week. But we have a great business within Greece and we see ourselves continuing there as market leader.” | Andrew Harrison, Dixons Carphone deputy chief executive, said: “We anticipate this is something that will get resolved by the weekend. It’s been a very strange and interesting week. But we have a great business within Greece and we see ourselves continuing there as market leader.” |
He said Kotsovolos, which makes up about 2.5% of the firm’s electricals and mobile phone business, had paid staff in cash this week and that people were still shopping and spending money. | |
“Footfall has not disappeared completely. People still need a fridge when the old one breaks,” said Harrison, adding that people were paying by cash or card. | |
Dixons Carphone’s chief executive, Seb James, had said Kotsovolos might even benefit from the crisis as rivals go bust. He said last month: “Obviously we don’t want to see civil unrest because that’s not good for business, but we’ve been there before and are well prepared.” | |
The company has drawn up contingency plans should Greece exit the euro, but the disruption is unlikely to help Kotsovolos. Sales rose more than 8% in the three months to May, helped by a government scheme giving free tablets and laptops to disadvantaged people. | |
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