The high street fashion retailer Next said there was no evidence that uncertainty surrounding Brexit was affecting consumer behaviour in the retail sector as it reported full-year results in line with expectations. Lord Wolfson of Aspley Guise, 51, the chief executive of Next and a supporter of Britain leaving Europe, also said that customers could benefit if Britain left the EU without a deal because tariffs would be cut by between £12 million and £15 million. He said that Next would pass any savings on to customers. Lord Wolfson said that the company felt that there was a “level of fatigue” around Brexit that “leaves consumers numb to the daily swings in the political debate”. He said: “It appears to us that consumer behaviour (in
The CEO of high-street fashion retailer Next has said UK consumer habits have not changed because of uncertainty about leaving the EU. Brexit-supporter Lord Wolfson made the claim as the firm posted profits of £722.9m ($949m) in the year to the end of January, only a 0.4% YoY reduction and in line with expectations, while total group sales reached £4.2bn. Wolfson stated that leaving the bloc without a deal could benefit customers as tariffs would be reduced by £12m to £15m, and that consumer demand would only be reduced if Brexit affects employment, prices or earnings.