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Currys sales return to growth

Currys has said it made a strong finish to its financial year as group like-for-like sales returned to growth with an uplift of 2% in the… View Article

ELECTRICALS AND TECH NEWS

Currys sales return to growth

Currys has said it made a strong finish to its financial year as group like-for-like sales returned to growth with an uplift of 2% in the 16 weeks to 27 April.

This follows a 3% decline in group like-for-like sales in its peak trading period.

Like-for-like sales in the UK and Ireland increased by 2% in the 16 weeks due to improved trading momentum.

Meanwhile, sales in the retailer’s Nordic business also grew by 2% despite a “challenging” market.

The electricals retailer now expects its adjusted pre-tax profit for the year to 27 April to come in at between £115 million to £120 million compared to a previous guidance of at least £105 million.

Alex Baldock, Currys group chief executive, said: “Our performance is strengthening, with good momentum in the UK&I, and with the Nordics getting back on track.

“Sales are now growing again, margins are benefiting from higher customer adoption of solutions and services, and cost discipline is good.

“All this means improved profits and, with our strong cash position, we’re well set up for the year ahead.”

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