UK retailers fall; Deutsche Bank downgrades stocks on weak consumer outlook

Wickes

26/08/2025 08:50

** Deutsche Bank cuts PTs, downgrades some British retailers

** Says taking more cautious view on UK's consumer sector

** Adds 2024 end, early 2025 likely to have been sweet spots, with real wage growth set to slow, unemployment fears set to build

** Downgrades AB Foods ABF.L to "sell" from "hold", cuts PT to 2,130p from 2,220p; stock bottoms FTSE 100 index .FTSE, falling 4.3%

** Cuts Wickes Group WIX.L to "sell" from "hold", lowers PT to 195p from 205p; stock top loser among all London stocks, slipping 8.2%

** Reduces Kingfisher's KGF.L PT to 280p from 320p; downgrades to "hold" from "buy"; stock down 3.8%

** Lowers Marks & Spencer's MKS.L PT to 435p from 450p; stock falls 1%

** YTD, ABF up ~8%, WIX gains ~34%, KGF adds ~9%, MKS falls ~6%

 (Reporting by Yamini Kalia in Bengaluru)

 ((Yamini.Kalia@thomsonreuters.com))