# Currys
**Currys** is a British omnichannel retailer of technology and electrical products, listed on the [London Stock Exchange](https://www.edgepedia.org/london-stock-exchange) as [Currys plc](https://www.edgepedia.org/currys-plc)[1](https://atoplegal.com/review-currys/) and trading as Currys in the UK and Ireland and as Elkjøp in the [Nordic countries](https://www.edgepedia.org/nordic-countries). In its 2025/26 financial year it operated 691 stores, generated £9,254m of revenue, and held a 17.5% market share in the UK and Ireland and 28.0% in the Nordics.[2](https://www.currysplc.com/media/54obwfuw/currys-annual-report-2025-26-web.pdf) • [3](https://www.currysplc.com/news-media/press-releases/2026/currys-full-year-results-2025-26/)
| Key fact | Detail |
|---|---|
| Established | 1884; incorporated in 1927 as Currys (1927) Limited[2](https://www.currysplc.com/media/54obwfuw/currys-annual-report-2025-26-web.pdf) • [4](https://atom.aim25.com/index.php/currys-group-plc?sf_culture=en) |
| Scale, FY2025/26 | Revenue £9,254m (+6% YoY); adjusted profit before tax £191m (+18%); 691 stores[3](https://www.currysplc.com/news-media/press-releases/2026/currys-full-year-results-2025-26/) • [2](https://www.currysplc.com/media/54obwfuw/currys-annual-report-2025-26-web.pdf) |
| Market share | 17.5% UK&I (296 stores, £5.4bn revenue); 28.0% Nordics (395 stores, £3.8bn revenue)[2](https://www.currysplc.com/media/54obwfuw/currys-annual-report-2025-26-web.pdf) |
| Services | Recurring services revenue £873m (+7%); flexpay credit sales £1.2bn (+10%); iD Mobile 2.6m subscribers (+18%)[3](https://www.currysplc.com/news-media/press-releases/2026/currys-full-year-results-2025-26/) |
| Brand consolidation | Currys PC World, Dixons, Carphone Warehouse, and Team Knowhow all became Currys by end of October 2021[5](https://www.marketingweek.com/currys-carphone-warehouse/) |
| Leadership | Alex Baldock (CEO 2018–2026) succeeded by Fredrik Tønnesen from 3 August 2026[3](https://www.currysplc.com/news-media/press-releases/2026/currys-full-year-results-2025-26/) • [6](https://kalkine.co.uk/news/retail/how-currys-lsecury-is-engineering-its-turnaround) |
| Shareholder returns | Full-year dividend 3.0p (+100% YoY) and a new £50m share buyback in 2025/26[3](https://www.currysplc.com/news-media/press-releases/2026/currys-full-year-results-2025-26/) |
## History and corporate lineage
The company traces its establishment to 1884.[2](https://www.currysplc.com/media/54obwfuw/currys-annual-report-2025-26-web.pdf) It was incorporated in 1927 under the Companies Acts 1908 to 1917 as a private limited company called Currys (1927) Limited, renamed Currys Limited in 1930, and re-registered under the Companies Act 1980 in 1981.[4](https://atom.aim25.com/index.php/currys-group-plc?sf_culture=en)
In 2021 the group consolidated its four customer-facing brands: Currys PC World and Dixons, alongside [Carphone Warehouse](https://www.edgepedia.org/carphone-warehouse) and the service partner Team Knowhow, all became known as Currys by the end of October 2021, with a visual identity developed by FutureBrand and a relaunched website.[5](https://www.marketingweek.com/currys-carphone-warehouse/) The Nordic business, Elkjøp, was established in 1962 and now runs 395 stores with more than 9,000 colleagues.[2](https://www.currysplc.com/media/54obwfuw/currys-annual-report-2025-26-web.pdf)
## How the business works
**Product mix and services.** Currys sells technology and electrical products, and attaches services to them that a pure marketplace struggles to sell: installation, removal of old units, extended cover, repair, and setup, which carry a different margin profile from hardware.[7](https://kalkinemedia.com/uk/stocks/retail/is-currys-lsecury-relying-on-the-shop-floor-to-hold-off-an-online-challenger) Care plans, mobile contracts, financing, and repair services generate income beyond the initial transaction and smooth the lumpiness of hardware cycles in electricals retail.[7](https://kalkinemedia.com/uk/stocks/retail/is-currys-lsecury-relying-on-the-shop-floor-to-hold-off-an-online-challenger) In 2025/26 recurring services revenue grew 7% to £873m, credit sales grew 10% to £1.2bn, and iD Mobile subscribers grew 18% to 2.6m.[3](https://www.currysplc.com/news-media/press-releases/2026/currys-full-year-results-2025-26/)
**Credit.** The flexpay credit offer reached £1.2bn in annual sales, up 10% year on year, with adoption rising to 23.7% of UK&I sales from 10.8% five years earlier, 2.7m customers, and approximately £300m in incremental revenue; the company states that credit customers spend twice as much over their lifetime as non-credit customers.[2](https://www.currysplc.com/media/54obwfuw/currys-annual-report-2025-26-web.pdf)
**Repairs.** The group supports 11.6m active repair plans and operates one of Europe's largest tech repair facilities.[2](https://www.currysplc.com/media/54obwfuw/currys-annual-report-2025-26-web.pdf)
**Omnichannel.** Stores and online operate together: omnichannel sales rose to 33% of UK&I revenue, up 3 percentage points over two years, while Nordics omnichannel sales rose to 18% from 14% over the same period.[2](https://www.currysplc.com/media/54obwfuw/currys-annual-report-2025-26-web.pdf) Process changes improved order pick times from 14.3 minutes to 9.2 minutes and raised collection ease scores from 81 to 88 points.[2](https://www.currysplc.com/media/54obwfuw/currys-annual-report-2025-26-web.pdf)
## By the numbers
In FY2025/26 the group reported revenue of £9,254m, up 6% year on year with like-for-like growth of 4%, and adjusted profit before tax of £191m, up 18%, with free cash flow of £157m and year-end net cash of £176m.[3](https://www.currysplc.com/news-media/press-releases/2026/currys-full-year-results-2025-26/) UK&I like-for-like revenue grew 3% with adjusted EBIT of £158m (+3%); Nordics like-for-like revenue grew 6% with adjusted EBIT of £97m (+26% currency neutral).[3](https://www.currysplc.com/news-media/press-releases/2026/currys-full-year-results-2025-26/)
The recent history shows the scale of the turnaround. Turnover fell from £10,242m in 2017 to £8,476m in 2024.[8](https://www.ii.co.uk/analysis-commentary/stockwatch-choosing-between-these-two-mid-cap-shares-ii535679) The company sizes its total addressable market at c.£48bn in the UK and c.£34bn in the Nordics; while 80% of UK and over 75% of Nordic households shop with Currys, it captures only around 30% of customer spend.[2](https://www.currysplc.com/media/54obwfuw/currys-annual-report-2025-26-web.pdf)
## How it compares with its rivals
A prior comparison put Currys at around £8.7bn of revenue versus roughly £1.1bn for AO, and described Currys as having much greater profit leverage.[8](https://www.ii.co.uk/analysis-commentary/stockwatch-choosing-between-these-two-mid-cap-shares-ii535679)
## Recent developments
**Leadership.** Alex Baldock joined in 2018 after the Dixons Carphone merger, overhauled the store estate, exited weaker international operations, and fended off [Elliott Management](https://www.edgepedia.org/elliott-management)'s takeover approach, after which the share price doubled over two years.[6](https://kalkine.co.uk/news/retail/how-currys-lsecury-is-engineering-its-turnaround) In March 2026 he announced his intention to step down after eight years, leaving to run Boots; the shares fell on the announcement.[2](https://www.currysplc.com/media/54obwfuw/currys-annual-report-2025-26-web.pdf) • [6](https://kalkine.co.uk/news/retail/how-currys-lsecury-is-engineering-its-turnaround) Fredrik Tønnesen, the Nordics CEO credited with tripling Nordic operating profit, was appointed Group Chief Executive Officer from 3 August, succeeding Baldock.[3](https://www.currysplc.com/news-media/press-releases/2026/currys-full-year-results-2025-26/) • [6](https://kalkine.co.uk/news/retail/how-currys-lsecury-is-engineering-its-turnaround)
**Capital returns.** The company proposed a final dividend of 2.25p, bringing the full-year dividend to 3.0p, double the prior year at 4.5x cover, alongside a new £50m share buyback.[3](https://www.currysplc.com/news-media/press-releases/2026/currys-full-year-results-2025-26/) Kalkine's analysis frames this as a shift from defending itself against Elliott to growing profits, while noting that the recovery's durability under new leadership remains unproven.[6](https://kalkine.co.uk/news/retail/how-currys-lsecury-is-engineering-its-turnaround)
## Criticisms and controversies
Across nearly half a million [Trustpilot](https://www.edgepedia.org/trustpilot) reviews, the customer experience is mixed, with recurring complaints about delivery problems (parcels returned without notice, missed paid slots), slow returns and repairs, and hard-to-reach customer service.[1](https://atoplegal.com/review-currys/) The company's predecessor, Dixons Carphone, also suffered a major data breach in 2017–18.[1](https://atoplegal.com/review-currys/)
## References
1. [Currys Review 2026, AtopLegal](https://atoplegal.com/review-currys/)
2. [Currys plc Annual Report & Accounts 2025/26](https://www.currysplc.com/media/54obwfuw/currys-annual-report-2025-26-web.pdf)
3. [Currys Full Year Results 2025/26, Currys plc](https://www.currysplc.com/news-media/press-releases/2026/currys-full-year-results-2025-26/)
4. [Currys Group plc, AIM25 archive catalogue](https://atom.aim25.com/index.php/currys-group-plc?sf_culture=en)
5. [Currys rebrand: Four brands become one, Marketing Week](https://www.marketingweek.com/currys-carphone-warehouse/)
6. [How Currys (LSE:CURY) Is Engineering Its Turnaround, Kalkine](https://kalkine.co.uk/news/retail/how-currys-lsecury-is-engineering-its-turnaround)
7. [Is Currys (LSE:CURY) relying on the shop floor to hold off an online challenger?, Kalkine Media](https://kalkinemedia.com/uk/stocks/retail/is-currys-lsecury-relying-on-the-shop-floor-to-hold-off-an-online-challenger)
8. [Stockwatch: choosing between these two mid-cap shares, interactive investor](https://www.ii.co.uk/analysis-commentary/stockwatch-choosing-between-these-two-mid-cap-shares-ii535679)
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*Topic: Encyclopedia › Society and history › Economics and business › Business and work › Retail trade and general-merchandise stores › Specialty non-food retailers*
*Initially written Sep 17, 2026 · Reviewed: Sep 20, 2026; Oct 10, 2026 · Edited: Sep 20, 2026; Oct 10, 2026; Oct 11, 2026; Oct 15, 2026 · Last review: Oct 10, 2026*
*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*
License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license