U.K. retailers are poised to raise more from initial public offerings in the first quarter of 2014 than in the previous five years combined as a strengthening economy whets investor appetite for the industry.
Mulberry Group Plc fell the most in more than a year in London after the luxury bag maker said profit will be “substantially below” estimates because of weak sales in the U.K. and order cancellations in South Korea.
Sports Direct International Plc, the U.K. sporting-goods retailer controlled by billionaire Mike Ashley, sold a recently acquired stake in Debenhams Plc and replaced it with a 64 million-pound ($105 million) wager on the department-store chain’s share price.
Tesco Plc and J Sainsbury Plc may report stronger sales this week as the U.K.’s worst early snowfall in 17 years prompted Britons to do all their holiday shopping in a single supermarket visit or to order online.
HMV Group Plc, the U.K.’s biggest DVD and music retailer, agreed to sell its Waterstone’s book chain to billionaire Alexander Mamut for 53 million pounds ($86 million) as it seeks to cut rising debt and stave off lenders.
Kingfisher Plc , Europe’s largest home-improvement retailer, said second-quarter sales declined as the U.K. B&Q chain offered fewer promotions and Britons cut spending on large items such as bathrooms and kitchens.
Three of Britain’s biggest retailers emerged as casualties of the Christmas season as consumers pared spending on everything from food to clothing, while changing their shopping habits to seek convenience.