london june 24 reuters  european retail stocks fell on friday to their lowest level since the onset of the covid19 pandemic in 2020 hit by a profit warning from online fashion retailer zalando and data showing consumer confidence in britain has hit a record low the stoxx 600 retail sector sxrp poised for its fourth consecutive week of declines hit its lowest level since march 2020 it was last down 14 heavily underperforming the broader market stoxx which was up 114 on the day shares of german retailer zalando zalgde plunged to a december 2018 low after the company on thursday warned of weaker second quarter and cut 2022 outlook on deteriorating macro conditions zalando shares were down 128 at 0900 gmt european retail stocks have lost more than a third of their value since the beginning of the year data on friday showed british consumers cut back on shopping in may in the face of fastrising inflation and a measure of their confidence sank to a record low this month sales volumes in britain in may fell by 05 on the month a slightly smaller decline than the 07 drop expected by economists polled by reuters britains longestrunning gauge of consumer confidence the gfk survey fell to its lowest since records began in 1974 read more reporting by joice alves and julien ponthus editing by dhara ranasinghe