Dixons Carphone has said that it is planning to close 134 stores as part of a group-wide overhaul of its estate.

In the Christmas period, Dixons Carphone saw group like-for-like revenues up 5% with record Black Friday and market share gains in all markets. In the wake of these better-than-expected results, it revealed a “significant UK property plan” to be implemented throughout 2016 and into 2017. This includes rolling out the new three-in-one store formats throughout the UK and Ireland which will see the group’s remaining PC World stores with Currys and opening a Carphone Warehouse within those locations.

Seb James, group chief executive, said: "I am very happy to be reporting a further year of good like-for-like growth over our peak trading period. The two-humped camel shape that emerged last year was further accentuated with an all-time record day on Black Friday and a strong promotional period after Christmas. In all territories we saw continued market share gain, especially in UK mobile. In the Nordics we had a huge Black Friday, but currency weakness and oil price continues to impact the Norwegian market, and so it was good to see growth despite this. In Southern Europe we have had a strong peak with our Greek business in particular going from strength to strength. Once again, customer satisfaction metrics moved forward year-on-year as did price competitiveness.

“Integration continues to go well, all key activities are more or less complete, and it gives me real pleasure to see the emergence of a distinct - and sometimes quirky - Dixons Carphone culture that contains some of the best elements of our different histories. We are seeing the benefits that we expected from the merger, and these will roll through into the next full year. As part of this process, we are now also taking the opportunity to put our estate into its long-term shape by rolling out the 3-in-1 format across the UK and Ireland with a major property programme that will enhance long-term earnings and improve our customer experience. Our experience has taught us that the net effect on both sales and colleague levels is likely to be neutral or better.

“It has been a busy time for Connected World Services. I am really delighted that our Sprint trial has gone so well, and we have now agreed with Sprint that the joint venture should go into full production towards its target of 500 stores. We have also extended our agreement with a major US manufacturer to implement honeyBee for two US networks in their retail stores. In the UK we have signed a significant distribution agreement with TalkTalk. With a strong pipeline, we are excited about the future for CWS.

“This has been a good year. We are continuing to invest in CWS and, in the Nordics, the twin effects of pricing investment and currency devaluation will have some impact this year. The result of all of this is that we anticipate a profit before tax slightly above consensus and in the range of £440m-£450m. Finally, it has been a pleasing few weeks for which the team have fought hard in a competitive market place, and I would like to record my sincere thanks to all of our colleagues that made it happen."