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.”
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.
