Rolling coverage of the latest economic and financial news
The Middle East crisis is expected to cost UK retail chain Next millions of pounds, and could hurt its sales the longer the conflict continues.
Next has told the City this morning that it has accounted for £15m of additional costs that are likely to arise from the conflict, such as fuel and air freight, on the assumption that the disruption lasts for three months.
At this point, the longer term implications of the conflict are uncertain, and NEXT is not well placed to make predictions.
As yet, we have no feel for the medium-term effects on supply chain resilience, freight rates, factory gate prices and consumer demand. Much will depend on how long the conflict persists, and how much permanent damage is done to the world’s energy infrastructure.
Continue reading…Rolling coverage of the latest economic and financial newsThe Middle East crisis is expected to cost UK retail chain Next millions of pounds, and could hurt its sales the longer the conflict continues.Next has told the City this morning that it has accounted for £15m of additional costs that are likely to arise from the conflict, such as fuel and air freight, on the assumption that the disruption lasts for three months.At this point, the longer term implications of the conflict are uncertain, and NEXT is not well placed to make predictions.As yet, we have no feel for the medium-term effects on supply chain resilience, freight rates, factory gate prices and consumer demand. Much will depend on how long the conflict persists, and how much permanent damage is done to the world’s energy infrastructure. Continue reading…
