UK performance keeps Currys on track to meet reduced profit target

Christmas proved a tale of two countries for electronics retailer Currys as the business said a better-than-expected performance in the UK and Ireland managed to offset its struggles in Scandinavia.
By Greg Wright
Published 18th Jan 2023, 08:40 BST

The company told shareholders on Wednesday that trade in the British Isles had improved during the 10 weeks to January 7 – the so-called “peak” period – when compared with the rest of the financial year to date.

Sales of appliances and mobile phone equipment were strong, although that was offset by weaker sales of computing products and consumer electronics.

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Thanks to a stronger performance in store than online, the business achieved better-than-forecast profits in the UK and Ireland, it said.

Electronics retailer Currys said it has seen a good performance in the UK and Ireland, but that its international business struggled over the festive period.Electronics retailer Currys said it has seen a good performance in the UK and Ireland, but that its international business struggled over the festive period.
Electronics retailer Currys said it has seen a good performance in the UK and Ireland, but that its international business struggled over the festive period.

Like-for-like sales dipped 5 per cent against last Christmas, but improved compared with the 8 per cent drop during the year to date.

The company’s international business saw a 7 per cent dip, driven by Scandinavia, where sales slowed by 10 per cent when compared with Christmas 2021.

Related topics:CurrysIreland