UK retailers fall as Deutsche Bank cuts ratings on weaker consumer spending
BUZZ-UK retailers fall as Deutsche Bank cuts ratings on weaker consumer spending ** Shares in UK retailers slip after Deutsche Bank downgrades ratings as consumer spending and confidence weakened in recent months
** DB says the biggest debate is whether the sector is in a "calm before the storm" as inflation hits spending and margins, or a "storm in a teacup" at the trough of negative newsflow
** Analyst Adam Cochrane says while spending and confidence have weakened, the backdrop is not a repeat of 2022, with companies better hedged on energy, supply chains more stable, and freight costs manageable
** Shares in B&M BMEB.L, Currys CURY.L, Dunelm DNLM.L, Wickes Group WIX.L down between ~3% to 4%
** Brokerage downgrades B&M to "Sell" from "Hold"; cuts PT to 155p from 175p
** Cuts Currys to "Hold" from "Buy"; lowers PT to 150p from 155p
** Downgrades Dunelm to "Hold" from "Buy"; slashes PT to 850p from 1,200p
** Cuts Wickes to "Sell" from "Hold"; lowers PT to 165p from 235p
(Reporting by Nithyashree R B in Bengaluru)