Retailer Joules is setting up an EU distribution hub and ordering products early as part of contingency plans for a potential hard Brexit. Retailer Joules is setting up an EU distribution hub and ordering products early as part of contingency plans for a potential hard Brexit. The group also said that it is bracing for expected increased administrative activities and is ramping up its currency hedging activities in anticipation of volatility in the pound as Brexit day approaches. Joules said in a trading update: “Contingency plans have been put in place to mitigate the expected disruption that could arise in the event of a ‘hard Brexit’. Given the performance, Joules expects underlying pre-tax profit to come in slightly ahead of expectations.

Source: Irish Independent December 05, 2018 07:41 UTC