Currys boasts of rising sales thanks to AI and a hot summer
Why Currys has seen a boost in recent sales
- Currys reported a three per cent increase in revenues across the UK and Ireland for the 17 weeks leading up to 30 August, driven by strong sales in AI computing and air conditioning.
- The electrical retailer saw double-digit growth in new product lines such as health and beauty devices and pet technology, alongside strong performances in gaming and coffee machines.
- These gains were partially offset by declining sales of televisions, tablets, and air fryers, while the use of credit for purchases rose to 23.3 per cent of all transactions.
- In the Nordics region, revenues edged up by two per cent, with CEO Alex Baldock stating that the recovery in this market is gaining pace and expressing confidence in improved profit margins.
- Currys announced a new £50 million share buyback programme and reaffirmed its earnings outlook for the year, with iD Mobile subscribers also increasing significantly.