Costly price wars with rivals fighting to take market share have caused Currys to come unstuck overseas, but the risk of heavy discounting is one that also needs to be managed closer to home.
Guidance for its adjusted pre-tax profits this year has been cut to between £100 million and £125 million, against a previous range of £125 million to £145 million. The retailer is more dependent than ever on Christmas sales after swinging to an adjusted loss of £17 million during the first half of the year.
The electricals chain is battling falling spending from cash-strapped consumers, an impact amplified by the boom in demand for televisions, laptops and games consoles during the pandemic. Its shares have followed suit, sliding almost 75 per cent
