Curry’s have reported a “resilient performance against a softer market” this morning, with peak online sales up 29 per cent in the run up to Christmas.
Group Peak like-for-like revenue were up four per cent for the 10 weeks ended 8 January 2022, and appetite remained strong for consumers.
The tech retailer saw the strongest growth in gaming and resilient growth in large domestic appliances.
International online sales were up 79 per cent, with the Nordics showing improved market share trends,and Greece benefitting from full opening of stores.
Alex Baldock, group chief exec, said: “The Technology market was challenging this Christmas, with uneven customer demand and supply disruption.”
However, he said: Customer demand for some tech was strong. This was a gamers’ Christmas, the year that virtual reality broke into the mainstream, and when consoles flew off the shelves. Oculus Quest 2 and PS5 were stars.”
“Appliances large and small also enjoyed strong sales, as consumers continued to kit out their homes. Still, the overall UK Tech market was down (10)% compared to last year’s Peak period.”
As such, Curry’s have adjusted its pre-tax profit to around £155m, and capital expenditure of around £170m, on the assumption that there is no further pandemic disruption, but continuing to face uncertain demand and supply chain disruption.
It will also be commencing the previously announced £75m buyback programme today.