Currys hails strong peak trading
Currys has reported strong peak trading with like-for like revenue up 2% in the 10 weeks to 4 January.
This included a 2% rise in the UK and Ireland and a 1% uplift in the electrical retailer’s Nordics region.
Currys said buoyant sales in mobile, gaming and premium computing in the UK and Ireland were offset by a weaker performance in the TV category.
Omnichannel sales grew strongly, with order & collect sales up 13% and online-in-store sales rising by 24%
Never Miss a Retail Update!Alex Baldock, Currys group chief executive, said: “This peak, customers took advantage of our market-beating deals and best-ever availability.
“AI laptops, where we have 75% market share, and premium mobiles proved especially popular.
“In all markets, customers showed they preferred shopping both online and in-store, and our investments in both channels paid off.”
The retailer’s Nordics region returned to growth in the period, although stronger sales in domestic appliances and computing were offset by weaker trends in TVs and mobile.
Currys now expects its full year adjusted pre-tax profit to come in ahead of consensus expectations at around £145 million to £155 million, up 23% to 31% year-on-year.
Baldock said: “We start 2025 confident that our strategy is working, and determined to keep building this ever-stronger Currys to the benefit of colleagues, customers, shareholders and society.”
