Shares in Dixons Carphone plunged more than 20% on Tuesday after the company warned profits would fall sharply next year.
The mobile phone retailer said it would close 92 of 650 standalone Carphone Warehouse stores in a bid to cut costs. Profit before tax is expected to be £382m in 2017/18, sliding to £300m the following financial year.
Dixons Carphone said it would take, “early, necessary action to correct recent underinvestment in our colleagues and customer proposition”.
