Warnings of a no-deal Brexit may send UK shoppers running scared
Retailers face tough times ahead as uncertainty reigns, though supermarkets could benefit from panic-buying
Troops on the street. Emergency measures to make sure food and medicines still get to the UK. With less than 100 days until Britain leaves the EU and no certainty over what the departure will look like, the government has little choice but to implement contingency plans for a no-deal Brexit. Consumers are already running scared of Britain crashing out of the EU without a deal. Profit warnings from Superdry, Bonmarche Holdings and most recently Asos have underlined just how difficult the market is for retailers. While the government needs to prepare for the worst, in doing so it risks panicking skittish consumers even more. And with the high street having suffered a bruising 2018, using a hard Brexit as a bargaining tool with Europe risks turning consumer-facing companies into collateral damage. The cabinet has agreed to implement no-deal plans in full, and officials will release more information for citizens in the coming weeks. Some early reports aren’t good. The Sunday Times said ...
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