STOCKS: The prospects for retailing Available to Purchase

The forecast that average wages would rise by at least 10% by mid‐'77 and inflation would continue at 14% were two of the more depressing “prospects” put forward at a recent retailing seminar organised by stockbrokers, Philips and Drew. Speakers at the conference discussed share prospects in the retail sector for the benefit of an audience of potential investors—in the main representatives of insurance companies and pension funds. Financial analyst, Alun Jones, examined the outlook for the whole sector, while Kenneth Bishop, Finance Director, Debenhams; John Samuel, Director and Joint Secretary, Marks and Spencer; and Ian MacLaurin, Managing Director, Tesco Stores each looked at the prospects for their own companies. Below we summarise some of their conclusions.