Currys and Entain flag lower profit expectations as consumer spend uncertain

Consumers have been cutting back on shopping and withholding purchases of non-essential items as inflation rises

Currys expects adjusted profit before tax for the year ending April 2023 to be in the range of £130m to £150m, compared with £186m a year earlier.

British electrical appliance retailer Currys Plc warned of lower annual profit on Thursday, saying it expected the new financial year to be difficult due to uncertain consumer spending.

Britons have been cutting back on shopping and withholding purchases of non-essential items as the country's inflation hit decades-high, pushing consumer confidence to a record low.