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Currys sees shoppers return to stores post-pandemic, with growing demand for omnichannel services

Repairs taking place in Curry's electronics repair centre. Image courtesy of Currys

Currys says shoppers returned, post-Covid-19, to its shops during its latest financial year, as demand for omnichannel services grew.

In-store sales were 61% ahead of the previous year in the UK and Ireland, and 24% higher across the group. In the previous year, its shops were often closed through pandemic trading restrictions and lockdowns. Some 45% of UK sales took place online during the year – 20 percentage points (pp) lower than last year – but 13pp higher than the year before that. At the same time, Currys’ share of the UK market grew by 2pp to 25.6%.

Currys says a multichannel business model means that customers can always get hold of the products they want to buy, quickly and with expert advice available online – through its ShopLive video shopping service – and in-store. Order online in-store sales are 118% higher than they were two years ago, while use of its order and collect service is 18% higher. A fifth of online orders were collected in stores in the last year, with more than half of those orders collected same day.

Currys today pledged to help its customers through the cost-of-living crisis as it reported a dip in full-year sales and profits. The electronics and technology retailer says it aims to build market share for the long term by helping shoppers through short-term challenges. 

Currys, ranked Top100 in RXUK Top500 research, is freezing prices and offering credit, while making repair and recycling options available. During the last year, it says, it has repaired 1.7m items in its in-house workshops.  

The update came as Currys reported group sales of £10.1bn in the year to April 30 2022. That’s 2% lower than in the previous year. In Currys’ domestic UK and Ireland market, sales of £5.5bn were 3% down on last time, while international sales of £4.7bn were 1% down. However, sales in the Republic of Ireland were weaker than in the UK because of stocking issues related to Brexit. 

At the bottom line, pre-tax profits came in at £126m, up from £33m a year earlier. Looking ahead, the retailer is targeting adjusted pre-tax profits of between £130m and £150m in its current financial year. 

Alex Baldock, Currys group chief executive, says: “We owe this performance to our thousands of capable and committed colleagues, who’ve built a stronger Currys. They’ve loved seeing customers returning to our stores in droves, and helping them with face-to-face expert advice and the full range of our services that ensure customers stick with us. Stores, in tandem with online, give our customers the omnichannel best of both worlds they clearly prefer. 

“A stronger business allows us to help customers through the cost of living crisis.”

He adds: “Our scale as an international market leader, our grip on costs and our strong relationships with suppliers will allow us to manage inflationary headwinds and keep amazing technology within reach of everyone, even now. That’s what Currys exists to do, and it’s never mattered more.” 

Supply chain and inflation issues

After two years of “constraints and bottlenecks on supply” Currys says it now has good levels of stock and availability across most categories. But it is now seeing prices rise in areas from the cost of goods to its operating costs and and it says that is likely to hold back consumer spending. One area where costs are falling is in rents, down by 41% on UK and Ireland store lease renewals over the last year.

By freezing prices, offering greener options and one-year credit options it aims to help customers in the short term in order to win their business for the long term. 


Currys is targeting net zero by 2040. In the last year, it says, its scope one and two carbon emissions – those created within its own operations – fell by 40% to 21.3k tonnes. That takes it to an 88% reduction over the last seven years. 

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