Primark owner Associated British Foods has conceded defeat in trying to hold prices while inflation rages but the balancing act is more delicate for electrical retailer Currys, which needs to entice cash-strapped consumers to part with higher sums for big-ticket tech products and home appliances.
Investors are unconvinced the FTSE 250 constituent can pull off this trick as successfully as it says it can — scepticism that has sent the shares down more than 40 per cent since the pandemic-era peak of this time last year and slapped an enterprise value of just 3.6 times forecast earning before tax and other charges, a near record low. Short interest in the shares has ratcheted up over the past 12 months to stand at 5.7 per cent
