Challenging for everybody

It is perhaps still too early to say what the full impact of Brexit will be as we still don't know what Brexit really means.
There are two probable scenarios: one is a "hard" Brexit, whereby the UK completely leaves the single market and has an arms-length relationship with the EU based on WTO trading rules or soft Brexit, where the UK remains in the single market, but manages to negotiate some way of limiting free movement from the rest of the EU. However, that scenario is looking less and less likely.
So assuming it is a hard Brexit, it will be challenging for UK manufacturers to compete on price, as their costs will rise due to complex EU rules of origin. For retailers already coping with a weakened currency, the cost of imports will rise further, e.g. for paints by 6.5 per cent or curtains at 12 per cent under WTO tariffs.
So there is no easy way around Brexit. It will be challenging for everybody, in the UK and in the EU.
Politically, there are also challenges. Will we see a rise in European protectionism, both toward third countries, but also within the EU itself? The story will play out over the next five to ten years. It is going to be a time of major adjustment.
Alisdair Gray, Director of European Affairs

We recognise and respect the will of the British people in choosing to leave the European Union. Our priority remains delivering our One Kingfisher plan. We will be following closely the exit negotiations as they progress. We ask that the British Government and the European Commission focus on ensuring as smooth a transition as possible for Brexit. It is also critical the British Government does what it can to ensure the continued growth of the UK economy.
Comment regarding any impact on our business: In the UK, the EU referendum has created uncertainty for the economic outlook, even though there has been no clear evidence of an impact on demand so far on our businesses.

Following the EU referendum, there is considerable uncertainty as to how the UK economy will fare over the next few years, with many experts forecasting a recession in the building and construction industry. As with the market for building materials in general, it is expected there will be a…