Currys has reported a strong start to its financial year, with growth across the UK, Ireland and Nordic markets. Like-for-like revenue in the UK and Ireland rose three per cent during the 17 weeks to 30 August, supported by double-digit increases in categories such as gaming, AI computing and large domestic appliances. Sales of cooling products and coffee machines remained steady, while demand for televisions, tablets and air fryers declined.
The retailer’s recurring services continued to expand, with customer credit adoption reaching 23.3 per cent and iD Mobile subscribers growing 22 per cent year-on-year to 2.3 million. Margins in the UK stayed stable despite ongoing cost pressures, with higher sales volumes providing operating leverage.
Currys also announced a £50 million share buyback alongside a £25 million dividend, raising total shareholder returns to £75 million. The company reported a reduced pension deficit, down from £403 million in 2022 to £134 million, with contributions expected to fall significantly from 2026.
The update comes amid a challenging high street environment. The retailer experienced a website outage following extended maintenance, while shares have dropped roughly 12 per cent since July, though they remain around 20 per cent higher year-to-date. Analysts have warned that slowing wage growth could weigh on retailers in the coming months, but Currys maintains a positive outlook.
