Currys edges down profit guidance after ‘challenging’ Christmas

Electricals retailer Currys has edged down its full year profit guidance after what it called a “challenging” technology market at Christmas with uneven customer demand and supply disruption.

The group, which trades from more than 800 stores in seven countries and online, said it expected to deliver a full-year 2021-22 adjusted pretax profit of around £155 million, versus last month’s guidance of about £160 million and £156 million made in 2020-21.

Currys said like-for-like revenue fell 5% in the 10 weeks to Jan. 8 year-on-year, but was up 4% against the same period in 2019-20, before the pandemic impacted trading.