Can Currys furnish some evidence that there is light at the end of the tunnel?
Investors in the electricals seller will certainly be hoping for some optimism after profits have taken a hammering.
It will post results for its first-half on Thursday and give an insight into how the High Street’s critical Christmas shopping period is going.
Shares are languishing at their lowest levels since 2009, when businesses were attempting to recover from the financial crisis.
They are down 34 per cent over the past year.
At its annual results in July, chief executive Alex Baldock announced falling sales and profits. ‘Looking ahead, we’re wary of optimism about consumer spending power,’ he had said.
The results will show whether or not consumers are putting off buying big-ticket items such as TVs, mobile phones and washing machines.
Analysts at AJ Bell are expecting sales for the whole of its 2024 financial year to drop 5 per cent to £9billion from £9.5billion.
In the first half of last year, sales hit £4.5billion.
Although a sale of its Greek business is expected to raise £156m and ease some of the pressure, analysts are also forecasting that profits will take a hit due to poor trading in the Nordics.
Shareholders will want to see if sales have improved in the area, where about 40 per cent of Currys revenues are made.
The firm has struggled with competition in this market after rivals ran heavy discounts.
