Currys Chief Executive Alex Baldock warned Thursday that supplies of fans and portable air conditioners are becoming “tight” ahead of another forecast heatwave in the United Kingdom, after a surge in demand during recent record temperatures emptied shelves across much of the country.
Speaking alongside the electronics retailer’s annual financial results, Baldock said cooling products had been “flying off the shelves” and that the company was working aggressively to replenish inventory before another period of unusually hot weather expected next week.
The demand surge has been extraordinary.
Currys reported that sales of electric fans increased nearly 3,000% during the most recent heatwave weekend compared with the previous week, while portable air-conditioner sales jumped approximately 330%. The company said its nationwide buying power has allowed it to secure more inventory than many competitors, although supplies remain under pressure as temperatures continue climbing.
Currys operates approximately 691 stores across the United Kingdom and the Nordic region, making it one of Europe’s largest consumer electronics retailers.
The comments came as the company reported stronger financial results for the year ended May 2.
Annual revenue increased 6% to £9.2 billion, while pre-tax profit climbed 23% to £153 million. Comparable sales at established UK stores rose 3%, outperforming many competitors in a retail environment that has remained challenging for discretionary spending.
Company executives credited growth across several categories, including coffee machines, artificial intelligence-enabled laptops, repair services, installation services and business sales.
The annual results also mark Baldock’s final earnings report before leaving Currys later this year to become Chief Executive of Boots, one of Britain’s largest pharmacy and health-and-beauty retailers.
The cooling-equipment shortage reflects a broader shift in consumer behavior across Britain.
For decades, air conditioning remained relatively uncommon in British homes because summers were generally mild. However, repeated periods of record-breaking heat have transformed cooling equipment from an occasional purchase into a mainstream household necessity.
Retailers throughout the UK have reported customers lining up to purchase portable air conditioners and fans whenever temperatures spike, creating supply shortages that manufacturers often struggle to replenish quickly.
Industry analysts say climate change is gradually reshaping seasonal retail demand, turning cooling products into an increasingly important sales category that can produce dramatic revenue swings within days.
Baldock also highlighted broader cost pressures facing retailers.
He warned that inflation remains a concern, pointing to continued global demand for semiconductor chips driven partly by artificial intelligence data-center construction. Although Currys said it has secured supplies of computers and mobile phones through at least September, the company expects supply-chain pressures to remain an ongoing challenge.
The chief executive also renewed calls for government reforms involving business rates and tax treatment for low-value imported goods sold through overseas online marketplaces, arguing that domestic retailers continue facing an uneven competitive environment.
For consumers, Baldock offered simple advice: shoppers needing fans or portable air conditioners should not wait until temperatures peak.
With inventories already tightening before the next forecast heatwave arrives, delaying purchases could leave consumers facing fewer choices—or empty shelves—as demand accelerates once temperatures begin rising again.
JBizNews Desk | London
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