Key TakeawaysElectronics retailer delivered 7% group like-for-like revenue growth over 17 weeks ending August 29UK and Ireland division achieved 6% growth, while Nordic operations surged 9%, with market share expanding across key product linesManagement reaffirmed full-year outlook, stating comfort with existing market consensus forecastsShares dropped 1.3% during early London session despite positive trading performanceBoth Panmure Liberum and Peel Hunt reaffirmed Buy recommendations, targeting 200p and 182p per shareShares of Currys (CURY) declined 1.3% during Wednesday’s early trading session in London, settling at 146.40p, despite the electronics and appliance retailer unveiling robust trading figures that showed 7% group like-for-like sales advancement for the 17-week period concluding August 29.Currys plc, CURY.LThe company’s UK and Ireland operations generated 6% like-for-like expansion, while its Nordic territories demonstrated even more impressive momentum with 9% growth. Leadership indicated satisfaction with prevailing market expectations and maintained existing full-year projections without adjustment.Across the UK and Ireland, expansion was evident in both physical retail locations and digital channels. Emerging product categories and corporate sales channels registered double-digit percentage increases. The retailer also highlighted competitive position improvements across all primary product segments, despite an overall stagnant market environment.The company attributed approximately 2 percentage points of market uplift to the World Cup tournament and unseasonably warm summer weather conditions.Subscription-based Services revenue maintained its upward trajectory. Flexpay penetration increased by 30 basis points compared to the prior year, reaching 23.6%, while iD Mobile customer base expanded 16% to exceed 2.7 million subscribers.Nordic performance was powered by white goods and mobile phone categories, with widespread momentum across both retail formats. The region also captured market share in most territories, although year-over-year comparisons were relatively easy.Management characterized gross margin performance as steady in both geographic segments, underpinned by disciplined expense management.Share Repurchase Update and Financial PositionCurrys verified that its £50 million share repurchase program is progressing, with £23 million executed to date. The retailer now anticipates year-end net cash substantially exceeding its £100 million benchmark.Management outlined objectives for sustained expansion in higher-margin recurring Services operations, establishing a target of reaching a minimum of 2.8 million iD Mobile customers by fiscal year-end.Wall Street and City Analyst PerspectivesCiti analysts anticipated a “materially positive share price reaction” following the announcement, pointing to robust trading metrics and confirmed guidance. The investment bank noted that shares had underperformed leading up to the release, which it viewed as a potential catalyst for recovery.Panmure Liberum, serving as the company’s corporate broker, maintained its Buy stance with a 200p price objective. Analysts highlighted that the encouraging year opening established “meaningful upgrade potential” given the organization’s substantial operational leverage.The brokerage calculated that each one percentage point improvement in like-for-like revenues across UK, Ireland and Nordic markets contributes approximately £12.5 million to consolidated profit, representing roughly 6.5% of fiscal 2026 adjusted pre-tax earnings.Peel Hunt similarly preserved its Buy recommendation, maintaining a 182p target. The firm indicated expectations to implement an earnings forecast revision ranging from 1% to 3% upward.Peel Hunt emphasized caution by noting that the initial half of the fiscal year conventionally represents merely 10% to 15% of annual profitability. Consequently, a successful peak holiday shopping period will prove essential before analysts embrace more substantial estimate increases.From a valuation perspective, the equity trades at below 10 times projected earnings. Panmure Liberum calculated the 2027 price-to-earnings ratio at 10.3 times.The post Currys (CURY) Stock Drops Despite Strong 7% Sales Growth – What’s Behind the Decline? appeared first on Blockonomi.