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Currys PLC (LSE:CURY), Tesco PLC (LSE:TSCO) and Kingfisher PLC (LSE:KGF) were among the retailers tipped to benefit from signs that UK consumer spending strengthened in June, while Primark owner Associated British Foods PLC (LSE:ABF) could be one of the main loser as shoppers increasingly bought online. Analysts at Citi said industry data from the British Retail Consortium and Barclaycard pointed to a sequential…

Currys LON: CURY reported stronger annual profit, free cash flow and net cash, with management saying the electricals retailer is benefiting from improving momentum in both the U.K. and the Nordics.

Citi has raised its price target on Currys PLC (LSE:CURY) to 184 pence from 168 pence and reiterated a 'buy' rating following what it called robust full-year results. Currys, the electricals retailer, reported adjusted pre-tax profit of £191 million for the year to April, in line with guidance the company had upgraded in May.

Currys PLC (LSE:CURY) shares fell 4.3% to 156.6p despite reporting strong annual results, as concerns over an emerging chip shortage and its impact on electronics prices overshadowed a profit jump and another shareholder payout. The FTSE 250 retailer reported an 18% rise in adjusted pre-tax profit to £191 million, doubled its dividend and announced a fresh £50 million share buyback.

Currys PLC (LSE:CURY) doubled its dividend and unveiled a new £50 million share buyback as the electricals retailer posted profits in line with previous guidance and said trading at the start of its new financial year had been "very solid". Adjusted pre-tax profit for the year to 2 May jumped 18% to £191 million, on revenue up 6% to £9.25 billion.