Dan Coatsworth, head of markets at AJ Bell, said: “Currys is a rare UK retail success story of recent years with an impressive recovery for the business from its 2023 nadir.
“As its festive update amply demonstrates, there is no sign of that letting up as the company delivers yet another upgrade.
“Unlike many of its retail peers Currys shaped up reasonably well during the Covid period as people took the opportunity to upgrade the electronic goods in their home.
“On the flipside, this left it particularly exposed as households which had already upgraded their kit felt less willing and able to spend as inflation surged coming out of the pandemic.
“A slowdown in its traditionally strong Nordics business only compounded problems.
“An opportunistic takeover bid in early 2024 from US investor Elliott tested the resolve of management but having rebuffed this approach, Currys has hardly looked back.
“As specialist and non-specialist competitors have exited the stage Currys has been left as the last electronics retailer of scale.
“Market share gains in both the UK and Scandinavia are driving impressive levels of growth in a subdued economic environment.
“As consumer electronics become more complex and harder for people to navigate, Currys has leaned into its strengths, looking to provide customers with support and guidance and help customers navigate a fast-changing world of consumer technology.
“This provides people with limited tech expertise with something they can’t get elsewhere when they are purchasing a new TV or laptop.
“It aims to offer this support through the full lifecycle of a product from purchase, credit and installation to repairs and recycling when it has reached the end of its useful life, thereby potentially generating regular revenue from the sale of a single item.”
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