Private Equity’s Bad Tidings in UK Xmas Retail: Andrea Felsted

Britain’s Christmas shopping season always spawns winners and losers. This year it was the big, listed chains that dominated.

It’s a theme that played out across the US and Europe. That doesn’t make it any more comfortable for the UK’s weaker retailers, led by Asda Group Ltd., which fared less well over the festive period. Any resurgence will be tougher with the behemoths all prospering at once.

Tesco Plc and Marks & Spencer Group Plc on Thursday delivered better-than-expected trading figures, driven by food. However, perhaps reflecting nervousness around the UK consumer, neither upgraded their outlook for the current ...