The pub chain founded by Tim Martin, said it made a 'commercial decision' as costs of staff wages and repairs rise.
British consumers are likely to face a further hike in prices of clothing and homewares following the pound's plunge against the dollar, consultants McKinsey said on Tuesday. The majority of UK retail's clothing and homewares are bought from Asia in dollars. “With cost of goods being such a high proportion of the cost base of a company then the extent to which if you have that denominated in the dollar then it’s a pretty material effect,” Anita Balchandani, leader of McKinsey's consumer industries and apparel, fashion, and luxury work in EMEA, told reporters when asked about the impact on consumer prices.
Huw Pill said that it is hard not to draw the conclusion that recent market uncertainty will require a 'significant monetary response'.