Currys
This coverage examines Currysโ operations and strategy within the UK retail market, focusing on store performance, online initiatives, product ranges, marketing campaigns, financial results, and leadership decisions. Reporting highlights how Currys navigates technological change, consumer demand, and competitive pressures โ providing insight for executives, managers, and professionals in electronics, appliances, and omnichannel retail.
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Sep- 2024 -24 SeptemberNews
Frasers Group lowers stake in Currys
Frasers Group has announced that it has lowered its stake in Currys just over a year after making an investment into the retailer.ย The group has lowered its holdings in the electricals business from 10.9% to 2.8%.ย The news comes after in June 2023 Frasers had made a โstrategic investmentโ…
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5 September
Today’s news in brief-5/9/24
Asos has sold a majority stake in Topshop and Topman to Heartland, a move valued at ยฃ135m. Heartland, owned by Bestseller, will acquire a 75% stake while Asos retains 25%. The deal includes rights for Asos to continue marketing the brands online under a new joint venture, aiming to streamline…
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5 SeptemberElectrical
Currys revenues up 5% amid strong Euros performance
Currys has seen its UK and Ireland revenues jump 5% like-for-like in the 17 weeks ended 24 August 2024. The electronics retailer has put this jump down to Englandโs run to the European Championship final and encouraging the early adoption of AI computing products. It has also seen strong growth…
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Jul- 2024 -23 JulyNews
Retail welcomes apprenticeship levy reform
Retailers such as AO and Co-Op as well as the British Retail Consortium have welcomed government plans for a new growth and skills levy. Keir Starmer announced yesterday (22nd July) that his government would introduce a new levy to replace the much-maligned apprenticeship levy. John Roberts, AO founder and CEO,…
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12 JulyNews
Today’s news in brief-12/7/24
Carpetright, facing intensified competition and reduced demand, has enlisted PwC to explore a potential sale. This move, likely to proceed as a pre-pack deal or a company voluntary agreement, aims to stabilise the company amidst financial pressures exacerbated by recent cyberattacks and operational restructuring efforts. The retailer has already initiated…
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12 JulyElectrical
Currys speeds up UK store investment programme
Currys has announced that it will be making further investments in its store portfolio, which will see 50 of its largest stores undergo makeovers to include new categories, seasonal showcases, and โa focus on reinvigorating megastore entrance spaceโ.ย ย It comes as Currys believes the blended in-store and online omnichannel model…
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Jun- 2024 -27 JuneNews
Today’s news in brief-27/6/24
Currys reported a 10% rise in adjusted profit-before-tax to ยฃ118m for the year ending 27 April 2024, despite a 2% drop in like-for-like revenue in the UK and Ireland and a 16% decrease in adjusted EBIT to ยฃ142m. The company attributed its improved EBIT, which was up over ยฃ2m when…
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27 JuneElectrical
Currys adjusted PBT rises 10%
Currys has revealed that its group adjusted profit-before-tax rose 10% year-on-year to ยฃ118m, for the year ended 27 April 2024. However, its like-for-like revenue in the UK and Ireland fell 2% and adjusted EBIT fell to ยฃ142m, a 16% drop YOY. Despite this, its adjusted EBIT was up over ยฃ2m…
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May- 2024 -17 MayNews
Today’s news in brief-17/5/24
Asos is set to enter the Indian market through a new long-term partnership with Reliance Retail, marking Asosโ first country-wide exclusive retail partnership. Reliance Retail will manage the exclusive retail presence of Asosโs brands both online and offline across India, utilising various retail formats including exclusive brand stores and digital…
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17 MayElectrical
Currys to revamp 65 stores to enhance customer experience
Currys has announced an investment programme that will see it refurbish 65 of its stores across the UK to improve the customer experience. The stores will have around 90% of their existing space changed making them โmore navigableโ for the customer and โenhancedโ layouts will enable them to showcase a…
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