Electronics retailer Currys will announce its interim results on December 12 and reveal the potential impact of the recent Budget on its sales.
Investors hope the chain will continue its financial recovery into the autumn. The company is forecast to report a £137 million profit for the half-year ending October, marking a 16% increase compared to the same period last year.
Currys has bounced back after facing challenges during the cost-of-living crisis, with much of the turnaround attributed to cost-cutting measures. It reported a 5% growth in sales across the UK and Ireland for the four months leading up to August.
The retailer has long emphasized its unique offering of in-store, face-to-face technology advice as a competitive advantage. Recently, it highlighted how AI ” brings excitement and innovation to customers.” The upcoming results will likely indicate whether this strategy, coupled with strong Black Friday promotions, has translated into increased sales.
However, Currys faces headwinds. Analysts at Deutsche Bank downgraded the company in early December, citing concerns about inflation’s impact on both costs and consumer spending in its category. They flagged uncertainties surrounding the scale of Budget-driven challenges.
Currys also joined other retailers in signing a letter criticizing Labour’s Budget tax increases on businesses, further highlighting the potential challenges ahead.
