Home / Retail / Toys R Us airs concern over consumer spending following Brexit vote

Toys R Us airs concern over consumer spending following Brexit vote

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.”

About Robert Hutchins

Check Also

Toy sales surge in the US and UK indies ‘rally community spirit’ in time of COVID-19 adversity

Toy sales in the US have seen a surge amid the global COVID-19 pandemic, according …