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10 months ago
BRIEF-Moody's says Brexit adds to UK clothing retailers' woes, overall retail outlook stable into 2018
October 5, 2016 / 6:01 AM / 10 months ago

BRIEF-Moody's says Brexit adds to UK clothing retailers' woes, overall retail outlook stable into 2018

1 Min Read

Oct 5 (Reuters) - Moody's:

* Forecasts that overall annual European revenue growth will remain within a range of 2.0% to 3.0% during the next 12-18 months.

* Earnings growth rates will differ across individual countries, with UK retailers facing less sanguine overall outlook as Brexit adds to pressures

* Brexit vote's impact on UK food retailers will be more muted, due to non-discretionary nature of food, less exposure to currency volatility

* Brexit adds to UK clothing retailers' woes, but overall European retail outlook stable into 2018

* Sustained economic recovery, rising consumer confidence will drive steady overall revenue and earnings growth for European retailers into 2018 Source text - bit.ly/2dIPcXD

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