Nick Bubb News
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As most Europeans shiver in the grip of the coldest March in living memory, the region’s retailers are feeling every bit as uncomfortable.
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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.
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Marks & Spencer Group Plc fell the most since 2010 in London trading as the U.K.’s largest clothing retailer reported quarterly sales that missed estimates, adding to pressure on Chief Executive Officer Marc Bolland.
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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.
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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.
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Ocado Group Plc, an unprofitable U.K. online grocer, traded above its initial public offering price for the first time in London as the shares continued to climb ahead of a fourth-quarter sales update on Jan. 10.
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HMV Group Plc , the U.K.’s biggest music and DVD retailer, may need to sell its Waterstone’s bookstore chain, suspend its dividend or offer shares as time runs short to develop a business model for the digital age.
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U.K. stocks climbed, rebounding from a three-day selloff, amid speculation a downgrade of Spain’s credit rating will encourage the country to seek a bailout and as U.S. jobless claims slid to a four-year low.
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Philip Green, the billionaire owner of Britain’s Arcadia fashion empire, sold a 25 percent stake in the Topshop and Topman retail chains to raise 500 million pounds ($805 million) of firepower for international expansion.
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HMV Group Plc , the music and DVD retailer that owns Waterstone’s bookstores, rose as much as 4.9 percent in London trading after Russian billionaire Alexander Mamut increased his stake to more than 3 percent.
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