Recent market turmoil offers selective buying opportunities in the General Retail and Leisure sectors. Key UK macro data-points all continue to look supportive of consumer spending, now with added stimulus from the Living Wage (LW). This backdrop can drive outperformance with reasonable upside risk to earnings and valuations on a 1-2 year view, especially stocks biased to low-to-mid income groups and/or exposed to online and retail parks, with limited LW costs. We advocate a positive stance on 1 ....
