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Currys Sees Strong Start to Year on World Cup, Heatwaves
The retailer said cooling products and World Cup demand lifted summer sales as it held a £199 million profit forecast.
- On Thursday, Currys posted 7% group sales growth for the summer period, boosted by World Cup-led demand and strong sales of cooling products during the recent heatwave.
- CEO Fredrik Tonnesen, who took over from Alex Baldock on August 3, oversaw 9% growth in the Nordics and 6% growth in the UK and Ireland business over 17 weeks.
- Strong demand for "supersize" TVs, beer pumps, and BBQs drove sales, while the retailer gained market share in every category against a flat wider market.
- The group remains on track for £199 million in annual adjusted pretax profit, with RBC Capital Markets analyst Richard Chamberlain calling it a "very encouraging start to fiscal year 2027."
- Despite households reining in discretionary spending due to sticky inflation and economic fallout from the Iran war, Currys bucked the trend of slowing British retail sales.
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Total News Sources16
Leaning Left3Leaning Right0Center5Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
L 38%
C 62%
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