News UK sales help strengthen Currys business


Currys has reported that “a solid performance” in its UK and Ireland business has helped to offset weakness in the international segment. In its latest trading update for the 10 weeks ended 7 January, the electrical


retail giant said UK and Ireland like-for-like revenue was down five per cent, but profits were “better than expected” thanks to gross margin increases and continued cost savings. Sales were strong in domestic appliances and mobile, but this was offset by weaker consumer electronics and computing, the report revealed. Interestingly, Currys stores outperformed its online counterpart in the 10-week period with customers “making the most” of its omnichannel offering. In the international business, like-for-like revenue fell seven per cent and profits


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were below forecast due to the Nordics region, where it saw a market-driven sales slowdown and continued pressure on gross margin. The retailer said sales declined in all categories except small appliances. Group Chief Executive of Currys, Alex Baldock, said international markets


remain tough and that the business continues to face into “intense, but temporary, market pressures”. More generally, he added that the company’s transformation is “visibly succeeding”…


Footfall in the UK over the festive period was the strongest since the COVID pandemic began, with retail footfall last month rising 15 per cent from a year before. This is according to the latest figures from the


British Retail Consortium-Sensormatic IQ monitor. It showed that, despite the hit from rail strikes and the pre-Christmas cold snap, footfall in high


“This peak has again shown Currys to be the number one choice for all things


tech. Looking ahead, the results in the UK&I show that we’re on the right path – we’re excited about our growing momentum, and we intend to build on it.”


streets rose 20 per cent year-on-year, and by 13 per cent in shopping centres. However, retail park footfall fell by 1.6 per cent. And for 2022 as a whole, footfall was still almost


12 per cent down on pre-pandemic levels (2019 figures), yet there was still an improvement from 2021, which was 33 per cent behind. Looking ahead, Andy Sumpter, Retail Consultant


EMEA for Sensormatic Solutions, said: “Although retailers’ input costs show little sign of easing in 2023, they continue to do all they can to keep prices affordable and tempt customers in. They will be hoping for more stability and support to help them chart a trading course for success amid the economic headwinds, as they adapt their retail offers to the needs of the cost-of-living consumer.”


Mitchell & Brown to drive shoppers back to the high street with huge new marketing campaign


Its nationwide initiative aims to leverage the mass


footfall in Morrisons supermarkets to drive customers into local electrical retailers. With the first trial beginning this month, the Bolton-based manufacturer has placed thousands of 16-page TV brochures, complete with a prominent discount code worth up to £100 off a Mitchell & Brown TV, in the checkout zones of 17 Morrisons stores across the UK. Over 70 Mitchell & Brown independent retailers


British TV brand, Mitchell & Brown, has launched its most ambitious consumer marketing campaign to date to support UK high streets and drive customers from supermarket aisles to their local electrical retail stores.


are situated within the initial catchment areas of the promotion, with more indie high street stores likely to be included in the planned second and third wave expansions later this year. “We are leveraging the high level of customer


traffic in Morrisons supermarkets towards our retailer partners, as the customer demographic is ideal


and Morrisons is one of the few supermarkets that does not sell TVs itself,” explained Dan Brown, M&B Operations Director. “Every brochure is a potential sale for our retailers


in the area surrounding each Morrisons supermarket, and the discount given on sales will be credited, ensuring retailers retain all our usual excellent margin. “Following this launch campaign we will analyse


the resulting sales and retailer engagement; that will steer how we expand the promotion in its second and third waves later this year, to bring the promotion’s benefit to even more of our loyal retail partners.” Mitchell & Brown TVs are available exclusively through independent


retailers that offer delivery,


installation and ongoing support throughout the life of the product.


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