AI tech boosts sales at Currys despite ‘subdued consumer backdrop’
AI-related computing sales and gaming launches helped Currys offset weak TV demand as adjusted pre-tax profit climbed 18% to £191 million.
- Electronics retailer Currys reported an 18% rise in adjusted pre-tax profits to £191 million, with annual group revenues increasing six per cent to nearly £9 billion, driven by growth in the Nordics.
- Artificial intelligence technology and gaming launches, such as the Nintendo Switch, boosted computing sales, though consumer electronics declined due to 'soft' demand for TVs.
- In the two months since the financial year ended, Currys added that trading has remained 'very solid,' shrugging off wider economic concerns about pressure on shopper finances.
- Fredrik Tonnesen, the boss of the Nordics business, will replace departing chief executive Alex Baldock next month, ending his eight-year tenure.
- Baldock confirmed plans to join high street pharmacy and beauty chain Boots in the autumn, leaving behind a group he says is continuing 'to strengthen' amid an uncertain outside world.
13 Articles
13 Articles
Evening Standard
AI tech boosts sales at Currys despite ‘subdued consumer backdrop’
Departing boss Alex Baldock said the group’s performance is continuing ‘to strengthen’.
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Currys must focus on its store to support lacklustre UK & Ireland retail sales, says GlobalData
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