Currys PLC (LSE:CURY) has backed guidance despite reporting a drop in sales in the 17 weeks to 26 August 2023.
Alex Baldock, chief executive, said: “Our priorities this year are simple: to keep the UK&I's encouraging momentum going, and to get the Nordics back on track.
“We're making good progress on both, in what continues to be a challenging economic environment.”
Group like-for-like sales fell 4% during the period with UK & Ireland sales down 2%, Nordics sales down 8% and Greece sales up 3%.
In the UK & Ireland, Currys reported revenue trends were better in July and August than in May and June with robust sales in domestic appliances and mobile, offset by weakness in other categories, especially computing.
Gross margin improvements were maintained alongside the delivery of cost-saving targets.
Trends in the Nordics improved slightly throughout period, although the trading environment remains challenging, the firm said.
Gross margin has improved due to actions taken, including higher customer adoption of services.