GREAT UNIVERSAL STORES
Expansion and consolidation have been the keynotes of the policy of the Great Universal Stores undertaking for many years, and expansion is now being carried a stage further by the acquisition of Alexander Sloan and Company, of Glasgow, and the smaller but also well-known mail-order business of Samuel Driver, Limited, of Leeds. Both these acquisitions were discussed by Sir Archibald Mitchelson at the annual meeting of Great Universal Stores, and it was disclosed that the necessary resources would be found by the issue of £i,000,000 of 44 per cent. Redeemable Debentures. It was made clear both by Sir Archibald and Mr. Isaac Wolfson, the managing director, that, despite the discontinuance of share bonuses, the outlook for the current year is distinctly promising. Mail order sales for the first nine weeks of the current year have shown a further increase, and, provided general trade conditions do not deteriorate, it seems safe to assume that the current year's profits will reach a fresh record.
* * * *
Previous page
