The electronics retailer posted a 3% like-for-like revenue increase in the 17 weeks to August 30, 2025, in its UK and Ireland business versus the same period in 2024.
It cited double-digit sales growth in new categories as well as its business-to-business (B2B) arm. Strong sales categories in the quarter included gaming, AI computing, large appliances and coffee machines.
The period included the biggest games console launch in several years with the Nintendo Switch 2. Currys was also a surprising beneficiary of the warmest summer on record as it reported strong sales in cooling products.
These all offset declines in TVs, tablets and air fryers.
It also reported strong business in recurring services with revenue up 23.3% in the quarter on the year before. ID Mobile subscriber numbers have also grown by over a fifth (22%) to reach 2.3m.
“It’s been a good start to the year, with encouraging performance across the group. In the UK and Ireland, we’re pleased with the trajectory in our growth areas of new categories, B2B and the services that are so valuable to customers and to Currys. Credit was notably strong, and iD Mobile is on track to beat the 2.5 million subscriber target we set for this year,” said group chief executive Alex Baldock in a statement.
The company announced a £50m share buyback commencing immediately alongside its revenue figures. Cash return to shareholders will total roughly £75m this year, following on from a previously announced cash dividend of circa £25m.
“We’re working to deliver an ever-improving experience for colleagues, customers and shareholders, as reintroducing the dividend and now starting share buybacks shows. None of this would be possible without our thousands of capable and committed colleagues; my heartfelt thanks go out to them,” added Baldock.
Currys’ Nordic business saw a like-for-like sales increase of 2%, with the firm citing robotic lawnmakers and vacuums as among the new categories driving sales growth.
Currys also said today that it was appointing Norwegian Rune Bjerke as a non-executive director. Bjerke is chair of Norsk Hydro and Wallenius Wilhelmsen.
“Rune has a strong record of business leadership and a deep knowledge of the Nordics markets and will bring extensive international experience and constructive challenge to the board, especially in relation to the group’s Nordics business. I look forward to working with him,” said Currys chair Ian Dyson.
No comments yet