Buxton backs lowly valued UK retailers

Schroders' head of UK equities Richard Buxton said there are opportunities in the UK retail space despite the challenging year for the high street, thanks to depressed valuations.

Buxton said more established UK retailers with strong balance sheets and sustainable franchises will emerge stronger as rivals such as Habitat and Jane Norman fall into administration. He called on investors to be patient in order to reap the rewards from those who weather the storm of low consumer sentiment currently battering the UK.  "If as a UK retailer you have a strong balance sheet, experienced and cautious management and a sustainable franchise, then you will survive the current tough times," said Buxton. "It will be a long and difficult road, but current share valuations o...