Andy Street, Managing Direction of John Lewis has warned that there may be implications for the department store following the post-Brexit sterling slump.
One of his main concerns focused on the potential high cost of imports to retails if the pound continues to decrease. He was also concerned by the ‘potential reduction in the growth of consumer spending and if it changes behaviour’.
He like many others is keen to know what the future for trade will look like in the new economy.
John Lewis has reported that sales were slow in the week following the Brexit results.
Mr Street was confident John Lewis’s company model to see them through potential tough times.
Full article is available at http://www.telegraph.co.uk/business