Proactive Investors – Currys PLC (LON:) has reported a boost thanks to the entry of artificial intelligence-enabled products to the market.
Group like-for-like revenue climbed 2% over the 17 weeks to August, the retailer reported on Thursday, aided by “encouraging early adoption” of such products in the UK and Ireland.
This saw like-for-like revenue tick up 5% in the region over the period, with Currys reporting it now had an almost 50% share of the UK and Irish laptop market.
“New AI-enabled computers are bringing excitement and innovation to customers, who are coming to our stores to learn more about the technology,” Currys chief executive Alex Baldock said.
“Along with mobile and business to business, AI product launches have contributed to an encouraging start to the year in the UK and Ireland, as we gain market share in an improving consumer environment.”
Subdued conditions remained in the Nordics, however, Currys said, prompting like-for-like sales to fall by 2%.
Currys added it was “pleased to be outperforming the market while improving gross margins and controlling costs” in the Nordics, despite the weak consumer environment.
Guidance for increased profit and free cash flow this year was held.
