Hello Share Seers. I’ve not recommended Currys (CURY) before and these strange times don’t usually warrant a recommendation for retailers. Nevertheless, I like Currys and a lot of other folks seem to as well, and so the stores should still do ok despite the rising cost of living. The truth is that people like their laptops, speakers and tellies and there aren't so many other sellers of these technological winners around these days. Some have gone belly up.
Back in January I wrote that “if you see Currys (CURY) shares at or below 100p…then buy them!”. A month or so later I did buy a few at about a 90p level. Naturally that has not worked despite the company being a thousand times better than AO World (AO.), something I am sure all you long/short investors would have observed. Still - on the former - it was good to see today’s full year numbers observing “a stronger Currys, doing more to help customers”, along with profit, free cash flow and negligible debt (in complete contrast to AO World naturally). However, naturally also, prospects for the year to April 2023 are somewhat lower than the year being reported on.
About a month ago (here) I wrote about Currys (CURY), observing that ‘if I see the stock below a quid then I will probably buy some’. Back then the stock was between 110-115p and today it is more like 107p. So what did today’s ‘trading update for 10 weeks ended 8 January 2022’ say?
If I was even more of a sad sack than I actually am, I would find on the internet one of those ‘Currys…no worries’ adverts that used to try to convince you to buy some new tech, lounge or kitchen product. However, judging by today’s 10% fall in the Currys (CURY) share price, taking it back to the c. 110p level it was at a year ago, I would say ‘Currys…lots of worries’ would be more apt.