Some banknotes from the United Kingdom. On the Beach Group shares plunged after the UK-based online seller of package vacations warned full-year profit will miss expectations because of the weakening pound. Bloomberg
Skift Take: A drop in the value of the British pound relative to the euro and the dollar is pressuring On the Beach. Smaller players like this UK-based packaged-vacation seller can't afford the currency hedges and other benefits of scale that larger players can. More industry consolidation is likely as a result.
No comments:
Post a Comment