Alex Baldock also warned that policies announced by the Chancellor in October will ‘depress investment and hiring’ plans.
The boss of Currys has said price rises will be “inevitable” as it prepares to face £32 million in extra costs due to the autumn Budget.
Currys said it predicts £21 million in extra costs linked to National Insurance and the minimum wage, a further £9 million in costs passed through from partner businesses and an extra £2 million in business rates costs. The electronics and white goods retailer revealed that group revenues increased by 1% to £3.92 billion for the half-year to October 26, compared with the same period a year earlier.
The group also revealed that it reduced its pre-tax loss for the half-year to £10 million, from a £44 million pre-tax loss a year earlier.
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