More Brexit woes?
Homeware retailer Dunelm has said it will push its prices up on thousands of products due to the weak pound that followed the EU Referendum.
The company which sells a range of furniture, curtains, bedding and towels has said the weak pound has squeezed its profit margins.
After making the plans known shares in the group fell by 9 per cent. The retail giant reported a pre-tax profit fall of 26 per cent, this was for the half-year to December.
Dunelm finance director Keith Down said the company had already changed its prices to some products within the store.
He added: “We expect to put through further price rises on a number of categories in the second half.”
The overall price rise is expected to affect 22,500 out of 30,000 product lines the store has to offer.
Since the EU referendum the sterling had fallen 17 per cent against the US dollar, this makes the cost of the mainly imported products the company sells more expensive.