Dixons Carphone reported good lfl growth (6% vs our estimate: +4.5%) in the Q1 trading update. The UK & Ireland business increased 4.0% (vs our estimate: +5.0%; contributes c.62% to group sales), driven by strong momentum in the electrical business and a +5.0% benefit due to sales transferred from closed stores. The Nordics and Greek businesses were up 8.0% and 6.0%, respectively (vs our estimate: +1.0% and +5.5%), on the back of market share gains in electrical business. The reported rev
