retail sales

retail sales

This British Retailer Should Be the Comeback Stock of 2015

6h ago
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Tesco comes in at number two in this week's countdown of the best European stocks for 2015. This morning we learned that in November British retail sales surged at their fastest annual rate in more than a decade, as U.S.-style 'Black Friday' discounts drove record sales growth across all the major retailers. The figures – which show over 6 percent growth on the year – suggest there’s elements of a recovery in play for the U.K. In light of this news I suggest you pick up shares of Tesco, the U.K.’s largest grocery store chain. Now Tesco has been in the news of late, as Warren Buffett recently slashed his stake in the company, calling his investment a 'huge mistake'. Shares are down 35% so far this year, but I think the negative noise has created an opportunity for contrarian investors. Tesco is more than 'just a British food retailer': in addition to its leading share of the U.K. grocery market (remember, not only does it have the most stores but also controls 50% of the online market), Tesco has major operations in other European countries and in Asia. In the U.K., it also owns valuable non-grocery assets, including property, which alone is likely worth more than its enterprise value. Subscribe to TheStreetTV on YouTube: http://t.st/TheStreetTV For more content from TheStreet visit: http://thestreet.com Check out all our videos: http://youtube.com/user/TheStreetTV Follow TheStreet on Twitter: http://twitter.com/thestreet Like TheStreet on Facebook: http://facebook.com/TheStreet Follow TheStreet on LinkedIn: http://linkedin.com/company/theStreet Follow TheStreet on Google+: http://plus.google.com/+TheStreet