After two years of largely uninterrupted asset price gains, January provided a rude awakening for many investors, as equity markets around the world took a tumble. And it wasn’t just profitless tech stocks that took a beating.

In response to recent trading updates, the share prices of many listed retailers have been hit for six.   With retail sales falling short of expectations, supply chain disruptions, and the risk of excess inventories, some investors have been spooked, and have headed for the exits.