US lingerie brand Victoria’s Secret has become the latest company to warn it is feeling the pinch from a drop in the value of the British pound, saying sterling’s slide posed a challenge to the “fundamental economics” of importing merchandise into the UK. Speaking at a conference in Ohio for investors in parent L Brands, the group’s international head Martin Waters said a relatively weak economy in the UK was undermining efforts to revive the company’s lossmaking business in the country.
US lingerie brand Victoria’s Secret has become the latest company to warn it is feeling the pinch from a drop in the value of the British pound, saying sterling’s slide posed a challenge to the “fundamental economics” of importing merchandise into the UK. Speaking at a conference in Ohio for investors in parent L Brands, the group’s international head Martin Waters said a relatively weak economy in the UK was undermining efforts to revive the company’s lossmaking business in the country.
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