Currys sales decline

Electrical retailer Currys has reported a drop in sales as consumer spending has been under pressure.

In the six months to October sales declined by 4% on a like-for-like basis compared to the previous year of the same period.

Group chief executive Alex Baldock said, “On the one hand, the consumer is hard pressed and confidence is pretty bumpy. Interest rates have been rising… and consumers are cautious about their spending.

“But on the other hand, real wages have continued to climb, employment has stayed high, people have retained savings, and customers are treating themselves.”