Investors might find UK retail cos attractive for acquisitions - Stifel
13/03/2023 11:36
** Stifel sees acquisition potential in UK retail sector,
saying many companies are trading below their IPO prices
** Brokerage identifies seven retail companies, including
Deliveroo ROO.L and THG THG.L that have lost value since
their IPOs in 2020-21
** Brokerage says despite 2023 rally in retail stocks,
overall performance of these companies remain weak as high
inflation eroded the benefits of e-commerce performance during
COVID lockdowns
** Adds, weak British pound against dollar makes UK market
attractive for U.S. investors
** Some retail cos that became public in 2021 have already
been acquired like Made.com brand that was bought by Next Plc
NXT.L last year and acquisitions of In The Style ITS.L and
Seraphine BUMP.L announced last week
($1 = 0.8271 pounds)
(Reporting by Roshan Abraham)
((Roshan.Abraham@thomsonreuters.com))