Overview
- Like-for-like revenue rose 3% in the UK and Ireland and 2% in the Nordics in the 17 weeks to August 30, according to the trading update.
- The company launched a £50m share buyback and confirmed a £25m dividend, taking total shareholder returns this year to £75m.
- Growth was led by double-digit gains in gaming, AI-enabled computing and large appliances, with cooling products and coffee machines strong but TVs, tablets and air fryers weaker.
- Recurring revenue drivers strengthened as credit usage reached 23.3% of purchases and iD Mobile subscribers increased 22% year on year to 2.3 million, with the CEO saying the unit is on track to beat its 2.5 million target before year-end.
- Shares jumped as much as roughly a fifth on the update, though the retailer flagged recent website disruption and analysts cautioned on consumer and cost headwinds; the pension deficit fell to £134m with contributions set to drop from 2026.