Currys enters 2026 with momentum as AI upgrade cycle and Nordic recovery support growth
Robyn Duffy, Consumer Markets Senior Analyst at RSM UK, comments on today’s results from Currys: “Currys’ interim results point to a strong performance in what has been a mixed year for UK consumer spending. Despite ongoing cost-of-living pressures, demand has held up, supported by Currys’ diversified model. Growth in services, improving credit penetration and disciplined cost control are underpinning margins and driving strong cash generation, while improving consumer confidence in Norway and Sweden is supporting a clear recovery in the Nordics.
“Looking ahead to 2026, there are credible tailwinds for Currys on the revenue side. The upgrade cycle driven by AI-enabled devices and the Windows 11 transition should support demand for higher-value technology. In addition, the TV category looks set for a modest recovery as consumers replace ageing sets and trade up to larger, premium screens. A packed global sporting calendar in 2026, including the FIFA World Cup and Winter Olympics, further supports this trend.
“The key risk for Currys is structural rather than cyclical. The UK electricals market has enjoyed a period of relative stability, but interest from new entrants like JD.com could disrupt that equilibrium. While Currys’ scale and omnichannel footprint provide resilience, maintaining relevance and customer engagement will be critical if competition intensifies. Overall, the outlook is positive, but execution and differentiation will matter more than ever.”