Euro 2024 driving ‘supersize’ TV gross sales, says Currys | EUROtoday

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England’s European Championship video games could not have been thrilling viewing to this point, however the boss of Currys hopes the Three Lions keep within the event to proceed a lift in gross sales of massive TVs.

The electricals chain stated UK gross sales have been up by greater than 30% up to now month, with boss Alex Baldock including so-called “supersize” screens – 85 inches and above – have been proving standard.

“Long may England and Denmark stay in the Euros – that’s doing well for us,” Mr Baldock stated.

As nicely robust UK gross sales within the run as much as the event, which additionally featured Scotland, the retail boss stated TV gross sales within the Nordics – its different most important market – have been up as a lot as 90% on final yr.

“Large-screen TVs – over 85 inches – is the fastest-growing segment for us at the moment,” Mr Baldock added.

The gross sales enhance got here as Currys reported an annual revenue of £28m following an enormous £462m loss the yr earlier than.

The firm, which has 719 shops throughout northern Europe promoting fridges, washing machines, TVs, computer systems and different electrical items, stated it had saved tons of of hundreds of thousands of kilos up to now few years by slicing prices throughout its UK and Ireland operations.

Mr Baldock stated the retailer anticipated expertise powered by Artificial Intelligence (AI) to be the “most exciting new product cycle” since tablets first hit the market in 2010.

He stated shoppers have been drawn to AI-products, explicit PCs and telephones, for options resembling enhanced pictures, language translation and prolonged battery life.

Russ Mould, funding director at AJ Bell, stated: “Currys has joined the bandwagon to hype up opportunities with AI. The company is expecting to do well with Copilot+ PCs – pitched as the fastest and most intelligent Windows PCs on the market.

“The firm does face dangers, together with competitors from non-specialists and any future weakening within the shopper backdrop, however it seems to be in a a lot better place than it did a yr in the past.”

Currys reported barely slower gross sales in contrast with the earlier yr as shoppers continued to rein in budgets amid larger dwelling prices.

Phones and cell providers bought nicely however demand for home home equipment weakened and electronics and laptop gross sales fell extra steeply.

The retailer stated using credit score climbed within the UK and Ireland to make up a fifth of purchases.

Earlier this yr, US funding agency Elliott Advisors scrapped plans for a takeover bid for Currys after the board of the UK retailer rejected a number of affords.

https://www.bbc.com/news/articles/cqv5dww0w9do