3i Group Shares Plunge After Slowdown at Retailer Action

3i Group shares fell 25% after reporting a slowdown in sales growth and profitability at retailer Action, which significantly impacts its portfolio. Action's like-for-like sales growth dropped to 2.4% this year, down from 6.8% last year, amid deteriorating consumer sentiment. The company's operating margin also decreased to 12.4%. 3i Group values its 65.4% stake in Action at £23.74 billion and plans a £750 million share buyback, despite a lower-than-expected net asset value per share of £30.30.