Currys maintains guidance despite dip in sales
Electricals retailer Currys is maintaining its full-year guidance despite an overall 4% drop in sales in the four months to the end of August.
In a trading statement, the retailer said like-for-like sales in the UK and Ireland edged down 2% in the period, although revenue trends were better in July and August than in May and June. While sales in the domestic appliance and mobile categories were “robust”, sales were weaker in other categories, especially computing.
Looking at Currys’ international performance, like-for-like revenue in its Nordic region was down 8% due to a continued challenging trading environment. However, revenue in Greece rose by 3% despite a short-term impact from wildfires on customer footfall last month.
Alex Baldock, Currys chief executive, said: “Our priorities this year are simple: to keep the UK&I’s encouraging momentum going, and to get the Nordics back on track. We’re making good progress on both, in what continues to be a challenging economic environment. We remain confident that we’re building a stronger business that’s resilient today and fit to prosper in the longer term.“
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