EUROPE

Not all recent UK company results have made pleasant reading for shareholders. Some highly regarded retailers - such as Next and Kingfisher - have disappointed, and not just because of the recognised headwinds of Brexit and currency. Something bigger seems to be happening. Across the whole of Europe, the retail sector has lagged the main share indices. And in the US, retail malls are noticeably quieter. The internet is rapidly eating into brick-and-mortar sales. But retail may not be the only sector being disrupted. What are the risks to investors?... The warning signs for the retail sector have been in the online growth of Amazon and Alibaba, with record sales in last November's Black Friday and Singles Day. UK High Street activity is shrinking, with speciality shops and restaurants that depend on footfall also seeing weakness in retail parks and shopping centres. Many units in these locations depend on the major branded retailers to attract customers, and everyone loses when shopper..