Currys sales in focus after electronics retailer shrugs off takeover interest

Currys is set to reveal slower yearly sales as the electronics chain grapples with more fragile consumer demand, after shrugging off foreign takeover interest.
Lizzie Murphy
By Lizzie Murphy
Published 12th May 2024, 06:00 BST

The retailer, which has about 300 stores in the UK, will publish a full-year trading update on Tuesday.

Currys is expected to report a pre-tax profit of about £114m for the latest year, down from £119m the previous year, according to an analyst consensus compiled for the company.

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Total sales are also set to dip to about £9bn, from £9.5bn last year.

Currys, which has about 300 stores in the UK, will publish a full-year trading update on Tuesday. It is expected to report a pre-tax profit of about £114m for the latest year, down from £119m the previous year, according to an analyst consensus compiled for the company, reporting slower yearly sales as consumer demand falls. Picture: Currys/PA WireCurrys, which has about 300 stores in the UK, will publish a full-year trading update on Tuesday. It is expected to report a pre-tax profit of about £114m for the latest year, down from £119m the previous year, according to an analyst consensus compiled for the company, reporting slower yearly sales as consumer demand falls. Picture: Currys/PA Wire
Currys, which has about 300 stores in the UK, will publish a full-year trading update on Tuesday. It is expected to report a pre-tax profit of about £114m for the latest year, down from £119m the previous year, according to an analyst consensus compiled for the company, reporting slower yearly sales as consumer demand falls. Picture: Currys/PA Wire

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The retailer, which sells everything from TVs and mobile phones to kettles and dishwashers, has previously flagged that its customers were feeling the effects of the cost-of-living crisis.

This was leading to slower demand for its big-ticket items, as people held off making more expensive purchases.

But like-for-like sales had started to return to growth over the start of the year, according to the latest update from the firm, leading it to upgrade its own profit outlook.

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The company was in sharp focus earlier this year when it looked to be at the centre of a bidding battle. But any hopes of a takeover were dashed when two potential suitors walked away from discussions.

Related topics:Currys