ARMY AND NAVY STORES
You will hardly expect me to tell you that we have started the new year in a promising way. Nor can I do so. We have not." In those words Brig.-Gen. Sir Frederick Gascoigne, chairman of the Army and Navy Stores, set out the present position with complete frankness to the shareholders. But he was fortunately also able to show that they had taken long- sighted precautions towards providing the company with a basis for the expansion of its business. He gave details of the re-arrangement of the store which will have the effect of bringing together related departments of the business and of more than doubling the space available for the display of women's dresses. He explained that he did not by any means despair of better conditions during the company's present financial year.
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