Currys PLC
10 September 2026
Trading update for 17 weeks ended 29 August 2026
Strong start to the year in UK&I and Nordics
· UK & Ireland like-for-like revenue +6%
o Sales growth in both stores and online, with double-digit growth in new categories and B2B
o Market share gains in all major categories, in a flat market that benefitted by c.2%pts from the World Cup and Summer heatwaves
o Recurring Services revenue growing strongly with flexpay adoption +30bps YoY to 23.6% and iD Mobile reaching over 2.7m subscribers, +16% YoY
o Gross margin stable with tight cost control
· Nordics like-for-like revenue +9%
o Sales growth across both channels, driven by white goods and mobile, with continued success in new categories, B2B and Services
o Market share gains in most countries and categories, in a market that saw strong growth against soft comparatives
o Gross margin stable with tight cost control
· Outlook
o Planning confidently for the remainder of the year. All guidance for the year remains unchanged and we are comfortable with market consensus1
o Targeting continued growth in higher margin, recurring Services revenue, including reaching at least 2.8m iD Mobile subscribers before year end
o £50m share buyback underway with £23m completed to date
o Expect year end net cash to finish well above our £100m target
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Like-for-like revenue - YoY |
|
|
UK & Ireland |
+6% |
|
Nordics |
+9% |
|
Group |
+7% |
Fredrik Tønnesen, Group Chief Executive
"Having worked in Currys' Nordic business for more than 20 years, most recently leading it, I have spent my early weeks as Group Chief Executive getting to know more of our UK&I colleagues and customers. I'm impressed by the calibre of the colleagues I've met and pleased by our trading in the early part of the year.
Currys has maintained its strong momentum. Across the Group we saw growth in both stores and online, with new categories, B2B and Services all growing strongly. In the UK&I, we gained share in every category, in a market that was flat even with the help of the World Cup and Summer heatwaves. In the Nordics we gained share in most categories and countries in a market that grew strongly.
Throughout, we have kept our focus on margin, cost and cash discipline.
I'd like to thank all my colleagues across the Group for this strong start, which sets us up well for the rest of the year. I'm looking forward to meeting more of them and working closely together to build an ever-stronger Currys."
1. Company-compiled consensus for 2026/27, as of 9 September 2026, forecasts Group adjusted PBT of £199m. Full forecasts are available on the corporate website: https://www.currysplc.com/investors/consensus-and-analyst-coverage/
In line with usual practice, the Group will update the market on full year profit expectations after the Peak trading period.
AGM details
The Currys plc 2026 Annual General Meeting will be held today at 11.00am at BFI Southbank, Belvedere Road, South Bank, London, SE1 8XT.
Next scheduled announcement
The Group is scheduled to publish its interim results for 26 weeks ending 31 October 2026 on 17 December 2026.
For further information
|
Dan Homan |
Investor Relations |
+44 (0)7401 400442 |
|
Tim Danaher |
Brunswick Group |
+44 (0)2074 045959 |
Information on Currys plc is available at www.currysplc.com Follow us on LinkedIn and X: @currysplc
About Currys plc
Currys plc is a leading omnichannel retailer of technology products and Services, operating online and through 691 stores in 6 countries. We Help Everyone Enjoy Amazing Technology, however they choose to shop with us.
In the UK & Ireland we trade as Currys and in the UK we operate our own mobile virtual network, iD Mobile. In the Nordics we trade under the Elkjøp brand. We're the market leader in all markets, able to serve all households and employing more than 24,000 capable and committed colleagues.
We believe in the power of technology to improve lives, helping people stay connected, productive, fit, healthy, and entertained. We're here to help everyone enjoy those benefits and with our scale and expertise, we are uniquely placed to do so.
Our full range of Services and support makes it easy for our customers to discover, choose, afford and enjoy the right technology to the full. The Group's operations include one of Europe's largest technology repair facilities, a sourcing office in Hong Kong and an extensive distribution network, centred on Newark in the UK and Jönköping in Sweden, enabling fast and efficient delivery to stores and homes.
We're a leader in giving technology a longer life through repair, recycling and reuse. We're reducing our impact on the environment in our operations and our wider value chain and we aim to achieve net zero emissions by 2040. We offer customers products that help them save energy, reduce waste and save water, and we partner with charitable organisations to bring the benefits of amazing technology to those who might otherwise be excluded.
Certain statements made in this announcement are forward-looking. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from any expected future events or results referred to in these forward-looking statements. Unless otherwise required by applicable laws, regulations or accounting standards, we do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Information contained on the Currys plc website or the 'X' feed does not form part of this announcement and should not be relied on as such.
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