Toys R Us airs concern over consumer spending following Brexit vote

Robert Hutchins

By Robert Hutchins

October 24th 2016 at 10:52AM
UPDATED October 24th 2016 at 11:18AM
Toys R Us airs concern over consumer spending following Brexit vote

The firm has secured sales of £436million for the year to January, but says vote to leave EU casts 'considerable uncertainty.'

Toys R Us has singled out Brexit as a key concern for disposable income and consumer spending in a year that sees it secure sales of £436m.

According to reports, the sales figure for the year end to January has moved only minimally while operating losses have improved on last year’s £18.2 million to £13.4 million.

However, the toy retail giant has warned that the Brexit vote has already cast ‘considerable uncertainty’ over the UK economy I relation to interest rates, the value of the pound, disposable income and consumer spending.

“The full effects of the vote will not be known for some time,” said the firm’s UK bosses.

“The company will adapt any plans necessary to mitigate any negative effects of the vote to leave the EU, but it is too early…for any specific plans to be developed or acted upon.”