Citigroup cuts 8 U.K. retailers to sell on consumer fears

A

ASusilovic

Citigroup downgraded several U.K. retailers, saying with house prices on an alarming downward path, levels of private debt "sky high" and the possibility of rate hikes, the outlook for the U.K. consumer is "pretty dire." "The U.K. consumer has still not fully capitulated and we now expect the peak of this brutal slowdown to be felt in 2009. On the back of this, we slash our 2009E EPS forecasts to 16% below consensus, now looking for negative growth of 6.7%, against our previous forecast of +5.6%," it said.


http://www.marketwatch.com/news/sto...x?guid={97D0716D-3D4B-4477-81AB-F19EFE863EB9}
 
Quote from ASusilovic:
"The U.K. consumer has still not fully capitulated
More...
The Brits and capitulate? I don't think they know how! "We will never surrender"

churchill.jpg
 
You must log in or register to reply here.
Back
Top