Hard Brexit is good for us says U.K. retail king [MarketWatch]
Diageo plc (DEO)
US:NYSE Investor Relations:
diageo.com/en/investors
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Source: MarketWatch
Hard Brexit is good for us says U.K. retail king One of Britain’s leading retail bosses says his clothing chain will receive a financial boost if the U.K. crashes out of the EU without a deal. Simon Wolfson, chief executive of Next NXT, +1.92% said government plans to cut tariffs to zero on 87% of imports, as part of a temporary no-deal plan, will benefit the firm by between £12 million to £15 million. Wolfson, one of Britain’s most respected and influential figures in business, joins a growing number of bosses who have shrugged off concerns about a no-deal Brexit. Last month, Ivan Menezes, chief executive of Smirnoff Vodka owner Diageo DGE, -1.48% said there would not be a material impact to the company from the split. Diageo would also benefit from no tariffs, he said. Lord Wolfson, who was ennobled in 2010 and is a Conservative peer, said: “We are ready for a no- deal Brexit. Six months ago we wrote a report about all the systems we have put in place — bonded warehousing, dis
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