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Brexit brings uncertainty for retailers

Retail research company Planet Retail has published a report highlighting what Brexit will mean for retailers in the UK and mainland Europe following the referendum decision for Britain to leave the European union.  Top of their predictions is a drop in retail sales of 18.3%.

There is fear that a weak UK pound will cause inflationary pressure with the knock-on effect of reducing food imports.  According to their report, nearly 40% of food sold in the UK is imported, much of it from Europe. This could add further pressure to the big 4 supermarkets with Aldi and Lidl the likely beneficiaries.  To read the Planet Retail report