Currys hit as shoppers rein in their spending

CURRYS sales slipped over Christmas as shoppers shunned expensive laptops and televisions.

revenue in the UK and ireland was 5pc lower in the ten weeks to January 7 than last year. robust demand for home appliances and mobiles was offset by weaker electronics and computer sales.

But profits in the UK and ireland were ‘better than forecast’ thanks to higher prices and cost savings.

it meant overall profits for the year would still come in between £100m and £125m as previously expected. shares rose 11.3pc, or 6.8p, to 66.75p, but are down more than 50pc since spring 2021.

record numbers of customers used its buy now, pay later service and it said stronger profits in the UK protected it from a weak performance in its international markets, with sales in the nordics down 10pc.

the retailer, which has turned down the brightness of tV screens in stores to save on its electricity, has prepared for government energy bill support to end. ‘We want to stand on our own two feet and we don’t want to have handouts indefinitely,’ boss alex Baldock said.