Currys to reveal sales progress as online growth continues

Currys PC World store with signage
In November, Currys said it is on track to post profits of £161 million for the current full year.
// Currys will reveal sales growth as strong online sales continued despite the reopening of stores
// A consensus of analysts have predicted earnings of £82 million for the half-year

Further online sales growth is expected to propel revenues higher at Currys as investors seek positive noises about the retailer’s key Christmas period.

Last month, the retailer said it has easily surpassed pre-pandemic trading in recent months as a recovery in high street footfall has added to continued strength in its digital business.

Currys is due to confirm a roughly 15 per cent jump in sales for the half-year to October in an update for shareholders on Wednesday December 15, compared with levels from 2019.


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This included a 11 per cent increase in its UK operation, as it saw stores sales recover after restrictions were eased earlier in the year.

In November, Currys said it is on track to post profits of £161 million for the current full year, representing a small increase after posting a £156 million profit for the previous financial year.

A consensus of analysts have predicted earnings of £82 million for the half-year.

Matt Britzman, equity analyst at Hargreaves Lansdown, said experts and investors will be keen to see if there has been movement in the firm’s profit guidance after Black Friday and weeks of Christmas shopping.

He said: “Next week’s results will give us a little more detail on operational performance.

“We’ll be keeping a close eye on whether profits are still in line with expectations, any wobble on the downside could impact markets.

“The bar has been set high, with half-year sales up 15 per cent compared to pre-pandemic numbers.”

It will be paramount for the company’s post-pandemic trajectory that it can keep this sales momentum over an important trading period.

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