European Stocks Decline After U.S. Economic Data; Tesco Slumps

European stocks declined after reports that showed U.S. retail sales and initial jobless claims missed economists’ forecasts outweighed lower borrowing costs at Spanish and Italian debt auctions.

Tesco Plc dropped 16 percent, leading retail shares lower, after the U.K.’s largest supermarket chain said it was “disappointed” with holiday sales. Vestas Wind Systems A/S and Delhaize Group SA tumbled. Royal Bank of Scotland Group Plc rose 5.6 percent after announcing job cuts. Sulzer AG, the world’s second-largest maker of pumps, added 5.1 percent after saying full-year orders increased 14 percent.