Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Retail

How Vulnerable Is Your Business To Volatile Currency Rates? Analysis

By Steve Wynne-Jones
Share this article
How Vulnerable Is Your Business To Volatile Currency Rates? Analysis

Lee McDarby, director of Corporate FX at moneycorp explains why grocery businesses should have a strategy around currency exposure, particularly with Brexit looming large on the horizon.

The British Retail Consortium recently suggested that the UK’s Brexit plan could put pressure on both British and European supermarkets; estimating that EU retail businesses could face losing £21 billion of agri-food exports to the UK, whilst 12,500 small retail businesses in the UK could go bust.

For example, The Finsbury Food Group has already had to close its London-based bakery, Grain D’Or, due to its profits plummeting by two thirds. The cake manufacturer cited a sharp increase in the price of butter, compounding problems in the business.

PLEASE SUBSCRIBE OR SIGN IN TO CONTINUE READING
ESM

30 Day Free Trial

Try European Supermarket Magazine Premium

Enjoy full access to European Supermarket Magazine, our weekly
email news digest, access to all website and app content, and the latest digital
magazine for a full 30 days.

  • - Payment details required during trial sign up.
  • - You may cancel at any time up to the end of the 30-day trial period.
  • - If you continue after the trial perion, then the annual rate of €109+VAT will be debited.
Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.