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UK retailer Currys posts strong start to year as World Cup and heatwaves boost sales - Finance news and analysis from Global Banking & Finance Review
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UK retailer Currys posts strong start to year as World Cup and heatwaves boost sales

Published by Global Banking & Finance Review

Posted on September 10, 2026

2 min read

· Last updated: September 10, 2026

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Currys Achieves Robust Summer Sales Growth in UK Amid Retail Sector Slowdown

Currys Defies Retail Sector Trends with Strong Performance

Summer Sales Boosted by Key Factors

World Cup and Heatwave Drive Demand

Sept 10 (Reuters) - British electronics retailer Currys on Thursday posted group like-for-like sales growth of 7% in the summer period, boosted by a World Cup-led demand and strong sales of cooling products during the recent heatwave.

Leadership and Market Context

The numbers set an early tone for new CEO Fredrik Tønnesen, and stand out in a retail sector where households squeezed by sticky inflation and economic fallout from the Iran war have reined in discretionary spending.

UK Retail Sector Overview

Slowdown in Retail Sales Growth

British retail sales growth slowed to a four-month low in August, figures from the British Retail Consortium trade body showed on Tuesday, after a hot-weather driven surge faded and shoppers cut back on big-ticket purchases in favour of cheaper products.

Currys Outperforms Competitors

Market Share Gains

Britain's biggest consumer electronics seller Currys bucked the trend as it posted a 6% increase in like-for-like sales in its main UK & Ireland business in the 17 weeks to August 29 and gained market share against an overall flat UK market.

Nordics Division Performance

Currys Nordics division, which was led by Tønnesen before he took over the CEO role in August, recorded 9% sales growth over the summer. The region now accounts for about 40% of group revenue.

Market Reaction and Outlook

Analyst Commentary

"We think this is a very encouraging start to fiscal year 2027," RBC Capital Markets analyst Richard Chamberlain said.

Share Price Movement

Shares of the London-based company were down marginally in early trade.

Financial Outlook

Currys said it remained comfortable with a company-compiled consensus of £199 million ($269 million) in annual adjusted pretax profit. Panmure Liberum analysts called the outlook prudent.

($1 = 0.7377 pounds)

(Reporting by Yamini Kalia in Bengaluru; Editing by Nivedita Bhattacharjee and Christopher Cushing)

Key Takeaways

  • Currys achieved 7% group like‑for‑like sales growth in summer, with UK & I up 6% and Nordics up 9%, gaining share in a flat market.
  • Broader UK retail growth stalled in August—like‑for‑like up only 0.5% as non‑food categories weakened amid cost pressures.
  • The solid start reinforces confidence in new CEO Fredrik Tønnesen’s leadership, and the company stands by its ~£199 million adjusted pretax profit guidance.

Frequently Asked Questions

What factors contributed to Currys' strong sales growth this summer?
Currys' sales were boosted by World Cup-led demand and increased sales of cooling products during the recent heatwave.
How did Currys perform compared to the overall UK retail market?
Currys outperformed the flat UK retail market with a 6% like-for-like sales increase, gaining market share despite sector slowdown.
What impact did the new CEO Fredrik Tønnesen have on Currys?
The strong start in sales under new CEO Fredrik Tønnesen set an encouraging tone for the fiscal year, especially with continued growth in the Nordics.
What is the financial outlook for Currys in the coming year?
Currys remains comfortable with a consensus of £199 million in adjusted pretax profit for the year, according to company guidance.
How significant is the Nordics division to Currys' overall revenue?
The Nordics division now accounts for about 40% of Currys' group revenue after reporting 9% sales growth over the summer.

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