Electronics retailer Currys’ (CURY) share price has managed a meaningful rebound in recent months. This implies the market is becoming more optimistic about the outlook and that a lot of bad news has already been factored into the share price.

Investors will get some insight when the company announces its first-half results on 15 December, which should include comments on its showing during Black Friday and Cyber Monday as well as how wider festive trading is going.

This is followed on 18 January 2023 by a trading update covering the Christmas period as a whole. Investors last heard from the company when it announced full year results on 7 July. These showed revenue down 2% to £10.12 billion. Store sales were up 24% but this was offset by a 29% decline in online sales.

Currys benefited from people buying laptops and other electronic goods during the pandemic but recent pressures on consumer spending and the fact that much of this earlier spend is unlikely to be repeated in the near term have clouded the outlook for the company.

However, Liberum analyst Wayne Brown observes that net cash averaged £290 million in the 12-month period to 30 April 2022. He adds: ‘Currys has transformed over the past few years, but there remains a significant recovery and growth opportunity.’

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