Currys PLC

Currys has reported a jump in UK sales growth over the summer, with UK and Ireland like-for-like sales growth rising to 6% in the 17 weeks since its May 2 year-end, up from 3% in the previous six months. Overall Currys group sales rose 7% in the first 17 weeks of its new financial year, while its Nordics arm saw 9% growth. New boss Fredrik Tonnesen, who took over from Alex Baldock on August 3, said the group outperformed a more difficult wider electronics market that would have shrunk without demand spurred by heatwaves and the June and July World Cup. The group said it remains on track with full-year expectations for underlying pre-tax profits of £199 million, up from £191 million in 2025-26, and is holding its annual general meeting for shareholders on Thursday. Retail expert Wayne Brown at Panmure Liberum called it a very strong update, and Richard Hunter, head of markets at Interactive Investor, said momentum had been maintained and the group gained market share in each of its categories despite a flat wider market.

Currys plc has deployed the NiCE CXone platform to unify customer interactions across its retail operations, driving double-digit improvements in customer satisfaction and quality. First contact resolution now runs at nearly 80 percent, the contact-to-order ratio fell to 0.18 per sales order, and the main Currys business recorded a six-point NPS improvement during the initial migration period. In one area, complaints fell by roughly half over 18 months and NPS rose by more than 20 points. The platform supports hundreds of advisors across the U.K., South Africa and India, managing nearly 6 million customer interactions annually. Currys expects the success to serve as a model for extending CXone across the wider business.

Currys has reported a surge in sales of supersize TVs, beer pumps, and BBQs as the World Cup and warm weather boosted the high street. Sales of TVs 90 inches and over jumped 221% compared with Euro 2024, while PerfectDraft home beer pump sales rose 27%. The retailer posted an 18% rise in adjusted pre-tax profits to £191 million for the year to May 2, with group revenues up 6% to £9.25 billion. UK sales grew 3% to £5.4 billion, driven by computing and AI technology, though consumer electronics were hit by soft TV demand. Outgoing chief executive Alex Baldock said current trading has been very pleasing and the business is strengthening despite a subdued consumer backdrop.

Shadow national security minister Alicia Kearns has called on the government to investigate Chinese online retail giant JD.com over fears its UK expansion poses an unfair threat to the high street. Kearns said JD.com, which recently launched in Britain under the Joybuy brand and has eyed takeovers of Currys, Argos, and Very Group, must be scrutinised for possible Chinese state subsidies that would be illegal in Europe. Her intervention follows a European Commission in-depth inquiry into whether JD.com received foreign subsidies that distorted the EU internal market, prompted by its €2.2 billion bid for German retailer Ceconomy. Kearns argued it is fundamentally unfair to expect British companies to compete with Chinese groups receiving such subsidies, and called for Parliament to block acquisitions if necessary for economic security. A JD.com spokesman said the Ceconomy bid is funded by private bank debt and available cash, not foreign subsidies, and that Joybuy is offering great value and fast delivery to over 17 million Britons.