sterling news and archive

Burberry sees UK sales sparkle on Brexit-hit pound

Luxury fashion giant Burberry, famed for its designer handbags and trenchcoats, said Tuesday that British sales have soared since the Brexit vote as tourists took advantage of the plunging pound. Sales rallied by almost a third in the three months to September 30 from a year earlier, as slumping sterling made it cheaper for overseas shoppers to...

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Retail

Retail sales surge as shoppers take to the high street post-Brexit

The news that the sterling has gained ground and soared back to its highest levels in two weeks shows how quickly a higher rate of inflation kicked in as a weaker pound caused imports to go up. For some retailers, the cost of importing clothing may rise by 6.5 percent, according to economists. The good news is British shoppers took to the high...

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Business

Brexit could make clothing more expensive

It is true that the fashion industry reflects currently situations occurring in the world. As the impending referendum sees Britain divided between the pros and cons of staying and exiting the European Union, the ‘see now, buy now’ direct to consumers business model sees fashion houses and organisations across the globe divided on the current...