Currys plc

Formerly|

* Dixons Carphone plc (2014–2021)[1]

Type| Public limited company

Traded as

| LSE: [Script error: No such module "Stock tickers/LSE". CURY]
FTSE 250 Component
Industry| Consumer electronics
Predecessors|

* Dixons Carphone
* Dixons Retail
* Carphone Warehouse Group

Founded| 7 August 2014; 11 years ago (2014-08-07)
Headquarters| London, England, UK

Number of locations

| 727 stores (2024)[2]

Area served

* United Kingdom
* Ireland
* Nordics

Key people

* Ian Dyson (Chairman)
* Alex Baldock (Group Chief Executive)

Brands| Currys
PC World (1994–2021)
Geek Squad UK (2006–2017)
Dixons Retail (1937–2014)
Revenue|  £8,706 million (2025)[3]

Operating income

|  £198 million (2025)[3]

Net income

|  £108 million (2025)[3]
Total assets|  £5,423 million (2025)[3]
Total equity|  £2,243 million (2025)[3]

Number of employees

|  24,706 (2025)[3]
Subsidiaries| Elkjøp Nordic AS

* Elgiganten
* Gigantti
* Elko
* Elding

Currys
iD Mobile

Carphone Warehouse
Website| currysplc.com

Currys plc (formerly Dixons Carphone plc) is a British multinational electrical and telecommunications retailer, and services company headquartered in London, England,[4] which was formed in 2014 by the merger of Dixons Retail and Carphone Warehouse Group. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

The company operates under a number of brands in the United Kingdom, Ireland and mainland Europe. These include Currys in the United Kingdom and Ireland and Elkjøp, Elgiganten and Gigantti in the Nordics.

## Contents

* 1 History
* 2 Operations
* 2.1 United Kingdom and Ireland
* 2.2 Nordics (Elkjøp Nordic)
* 2.3 Former brands
* 2.3.1 Former retail brands
* 2.3.2 Former operational brands
* 3 Leadership
* 4 Data security breaches
* 5 References

## History

Following shareholder agreement in July 2014, the £3.8 billion merged entity was launched on 7 August 2014; on the first day of trading the shares in the merged business were owned 50:50 by the former Dixons Retail and former Carphone Warehouse shareholders.[5][6] Carphone Warehouse's Sir Charles Dunstone was appointed chairman, and Sebastian James became chief executive.[7]

On the first day of trading, the company opened Carphone Warehouse concessions in seven PC World or Currys stores.[8] In December 2016, Dixons and SSE, a domestic energy supplier, announced a partnership to provide "connected home" services in the United Kingdom.[9]

In January 2018, Sebastian James resigned as chief executive to become president and managing director of Boots UK.[10] Alex Baldock left his previous role as chief executive of Shop Direct (the company responsible for brands such as Very and Littlewoods) to succeed James as chief executive of Dixons Carphone.[11]

In March 2019, Dixons Carphone was given a £29.1m fine from the Financial Conduct Authority (FCA) for mis-selling its Geek Squad services. The FCA found that the company's staff were trained to sell the service to customers who already had an insurance cover.[12] During the period under investigation, between 1 December 2008 and 30 June 2015, Carphone Warehouse sold Geek Squad policies worth more than £444.7m.[13] Dixons Carphone did not contest the FCA's findings and qualified for a 30% discount, reducing the fine from £41.6m.[14]

In June 2019, shares in Dixons Carphone fell almost 20% following a significant decline in full year profits, mainly caused by consumers' growing delay in upgrading their mobile phones.[15]

On 3 April 2020, the company permanently closed 531 stand-alone Carphone Warehouse stores that were solely focused on telephone devices. Subsequently, 3,000 job positions related to the affected stores were cut. According to the firm, the reason behind the closure of the stores was the online shift of customers and a lesser extent of phone upgrades.[16]

Following the spread of the COVID-19 pandemic, on 4 August 2020, Dixons Carphone announced 800 job cuts in response to increased costs. The company also announced plans to re-organise its operations in its bigger stores. Regarding the decision, the firm's chief operating officer stated that they wanted "to empower store leadership teams, create a flatter management structure and make it easy for customers to shop with us."[17]

The business was renamed from Dixons Carphone to Currys plc in September 2021. The Currys brand also replaced the company's former retail brands, including PC World, Team Knowhow and Carphone Warehouse.[18]

In June 2023, Frasers Group acquired a stake in Currys, which would increase during the year.[19]

In November 2023, Currys announced that they would be selling their Greek and Cypriot business, Kotsovolos, and would be leaving the South Eastern European market. Outside the UK and Ireland, the company would do business only in the Nordic countries.[20]

On 17 February 2024, Sky News reported that Elliott Investment Management was interested in buying Currys for £700M; Currys turned down the offer.[21][22] A leading shareholder in Currys demanded that the company's board not engage with potential suitor Elliott Advisors unless it proposed a minimum offer of 75p-a-share, valuing the retailer at around £800m, amid claims that a 62p-a-share offer from Elliott undervalued the company.[23]

## Operations

The company owns the following brands:[24][25]

### United Kingdom and Ireland

* Currys – specialises in home electronics, household appliances and computing
* iD Mobile – a mobile virtual network operator (UK only)
* Carphone Warehouse – online retailer of mobile handsets (closed physical concessions in 2020)[26]

### Nordics (Elkjøp Nordic)

* Elkjøp – ("Electrical Buy") sells home electronics and household appliances in Norway[27]
* Elgiganten – ("Electrical Giant") sells home electronics and household appliances in Denmark and Sweden, franchised[27] by Pisiffik on Greenland[28]
* Gigantti – ("Giant") sells home electronics and household appliances in Finland[27]
* Elko – franchise[27] owned by Festi hf that uses the same brand markers, selling home electronics and household appliances in Iceland[29]
* Elding Elrisin – Elgiganten franchise on the Faroe Islands[27]

### Former brands

#### Former retail brands

Brand  | Description  | Founded  | Ceased

|
|
|

Dixons  | A high-street retailer of consumer electronics in the United Kingdom and Ireland  | 1937  | 2012
PC World  | A retail chain of mass-market computer megastores  | 1991  | 2021
Dixons Travel  | A technology retailer operating in airports  | 1994  | 2021

#### Former operational brands

Brand  | Description  | Founded  | Ceased

|
|
|

Kotsovolos  | Greek electronics retailer  | 2000 (2005 acquisition)  | 2023
Geek Squad UK  | A provider of aftersales and insurance for Carphone Warehouse  | 2006  | 2017
Tech Guys[30] | An operational services brand for Currys and PC World stores  | 2006  | 2010
Knowhow[30] | An operational services and aftersales brand for Currys and PC World stores as well as Elkjøp-brands in the Nordics  | 2010  | 2017 (UK)

2020 (Nordics)

Team Knowhow[31] | An operational and aftersales services brand for Currys PC World and Carphone Warehouse stores  | 2017  | 2021[24]

## Leadership

The company's board is chaired by Ian Livingston. The non-executive directors are Andrea Gisle Joosen, Eileen Burbidge, Fiona McBain, Gerry Murphy and Tony DeNunzio.[32] The CEO of Currys plc is Alex Baldock, appointed in 2018.[32] The CFO of the business is Bruce Marsh, appointed in July 2021.[32]

## Data security breaches

The group was fined £400,000 by the Information Commissioner in January 2018, as a result of unauthorised access to the personal data of over three million customers in 2015.[33] A further security breach, said to affect 1.2 million customers, was reported by the company in June 2018.[34] The number of customers affected was later increased to 10 million.[35]

## References

1. ↑ "Currys PLC overview - Find and update company information - GOV.UK" (in en). 2009-12-15. https://find-and-update.company-information.service.gov.uk/company/07105905.
2. ↑ "At a glance". Currys plc. https://www.currysplc.com/about-us/at-a-glance/.
3. ↑ 3.0 3.1 3.2 3.3 3.4 3.5 "Annual Report & Accounts 2024/25". Currys. https://www.currysplc.com/media/ap4dtkwn/currys-annual-report-2024-25-web.pdf.
4. ↑ Dixons Carphone, Company Information Service, https://find-and-update.company-information.service.gov.uk/company/07105905, retrieved 28 February 2021
5. ↑ "Dixons and Carphone warehouse merge to exploit internet of things". Marketing Week. 15 May 2014. http://www.marketingweek.co.uk/sectors/retail/news/dixons-and-carphone-warehouse-merge-to-exploit-internet-of-things/4010505.article.
6. ↑ "Dixons and Carphone Warehouse shares drop on merger". BBC News. 15 May 2014. https://www.bbc.co.uk/news/business-27420599.
7. ↑ Ruddick, Graham (15 May 2014). "Carphone Warehouse and Dixons agree £3.8bn merger". Daily Telegraph. https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/10832594/Carphone-Warehouse-and-Dixons-agree-3.8bn-merger.html.
8. ↑ "Dixons Carphone unveils new stores". 7 August 2014. https://www.bbc.co.uk/news/av/uk-28689236.
9. ↑ "Dixons Carphone joins with energy supplier SSE for UK 'connected home' venture" (in en). Reuters. 2016-12-14. https://uk.reuters.com/article/uk-dixons-carphone-sse-jointventure-idUKKBN143004.
10. ↑ Slawson, Nicola (2018-01-20). "Dixons Carphone CEO will step down to run chemist chain Boots" (in en-GB). The Guardian. ISSN 0261-3077. https://www.theguardian.com/uk-news/2018/jan/20/dixons-carphone-ceo-sebastian-james-will-step-down-to-run-chemist-chain-boots.
11. ↑ Boland, Hannah (2018-01-19). "Dixons Carphone hires Shop Direct's Baldock to top role after chief executive quits for Boots" (in en-GB). The Telegraph. ISSN 0307-1235. https://www.telegraph.co.uk/business/2018/01/19/dixons-carphone-hires-shop-directs-baldock-top-role-chief-executive/.
12. ↑ Jahshan, Elias (2019-03-13). "Dixons Carphone slugged with £29m fine for mis-selling mobile insurance" (in en-GB). https://www.retailgazette.co.uk/blog/2019/03/dixons-carphone-slugged-with-29-1m-fine-for-mis-selling-mobile-insurance/.
13. ↑ "Geek Squad fine over insurance mis-selling" (in en-GB). 2019-03-13. https://www.bbc.com/news/business-47551496.
14. ↑ Chapman, Ben (2019-03-13). "Dixons Carphone fined £29m for pushing phone insurance customers didn't need" (in en). https://www.independent.co.uk/news/business/news/dixons-carphone-warehouse-fine-geek-squad-phone-insurance-fca-a8820416.html.
15. ↑ Kollewe, Julia (2019-06-20). "Dixons Carphone reveals big losses at mobile phone shops" (in en-GB). The Guardian. ISSN 0261-3077. https://www.theguardian.com/business/2019/jun/20/dixons-carphone-reveals-big-losses-at-mobile-phone-shops.
16. ↑ Provan, Sarah; Eley, Jonathan (17 March 2020). "Dixons Carphone Warehouse closes 530 UK stores with loss of 3,000 jobs". Financial Times. https://www.ft.com/content/98253d92-6823-11ea-a3c9-1fe6fedcca75.
17. ↑ Eley, Jonathan (4 August 2020). "Dixons Carphone to axe 800 jobs in revamp of operations". Financial Times. https://www.ft.com/content/cfad0d98-7995-46fb-9f3f-0ae260541884.
18. ↑ Onita, Laura (13 May 2021). "Dixons, PC World and Carphone Warehouse to disappear in Currys rebrand". The Telegraph. https://www.telegraph.co.uk/business/2021/05/13/pc-world-carphone-warehouse-disappear-currys-rebrand/.
19. ↑ Sensi, Jasdip (2023-07-13). "Frasers Group increases stakes in N Brown and Currys" (in en). https://internetretailing.net/frasers-group-currys/.
20. ↑ Hill, Eloise (2023-11-03). "Currys to sell Greek and Cypriot business for £175m - Retail Gazette" (in en-GB). https://www.retailgazette.co.uk/blog/2023/11/currys-sell-greek/.
21. ↑ "Waterstones-owner Elliott plots £700m takeover bid for high street giant Currys" (in en). https://news.sky.com/story/waterstones-owner-elliott-plots-700m-takeover-bid-for-high-street-giant-currys-13073609.
22. ↑ Goldfingle, Gemma (2024-02-18). "Currys rejects takeover bid from Waterstones owner Elliott - Retail Gazette" (in en-GB). https://www.retailgazette.co.uk/blog/2024/02/currys-takeover-bid-elliott/.
23. ↑ Kleinman, Mark (19 February 2024). "Top shareholder wants £800m for electricals retailer Currys" (in en). https://news.sky.com/story/top-shareholder-wants-800m-for-electricals-retailer-currys-13075210.
24. ↑ 24.0 24.1 "Our brands". https://www.currysplc.com/our-brands/.
25. ↑ "What we do". https://www.elkjopnordic.com/what-we-do.
26. ↑ "Carphone Warehouse to close all standalone stores at cost of 2,900 jobs" (in en-GB). BBC News. 2020-03-17. https://www.bbc.com/news/business-51923295.
27. ↑ 27.0 27.1 27.2 27.3 27.4 "About us". https://www.elkjopnordic.com/about-us.
28. ↑ "Elgigantenbrand Pisiffik.gl" (in da). https://www.pisiffik.gl/da/content/97-elgigantenbrand.
29. ↑ "Um ELKO" (in is). https://elko.is/um_elko.
30. ↑ 30.0 30.1 "Dixons sets up new technical support service Knowhow". The Guardian. 21 November 2010. https://www.theguardian.com/business/2010/nov/21/dixons-knowhow-technical-support.
31. ↑ "Dixons Carphone expands services offering at Currys PC & Carphone Warehouse stores with roll out of Team Knowhow". Retail Gazette. 27 July 2017. https://www.retailgazette.co.uk/blog/2017/07/dixons-carphone-expands-services-offering-team-knowhow/.
32. ↑ 32.0 32.1 32.2 "Board of Directors" (in en-US). https://www.currysplc.com/about-us/leadership/board-of-directors/.
33. ↑ "Carphone Warehouse fined £400,000 after serious failures placed customer and employee data at risk". Information Commissioner's Office. 10 January 2018. https://ico.org.uk/about-the-ico/news-and-events/news-and-blogs/2018/01/carphone-warehouse-fined-400-000-after-serious-failures-placed-customer-and-employee-data-at-risk/.
34. ↑ "Investigation Into Unauthorised Data Access". RNS London Stock Exchange. 13 June 2018. http://otp.investis.com/clients/uk/dixons_carphone_plc1/rns/regulatory-story.aspx?cid=1408&newsid=1053062.
35. ↑ "Nine million more hit by Dixons data breach" (in en-GB). BBC News: Business. 31 July 2018. https://www.bbc.com/news/business-45016906.

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