Exchange rate woes
Monday, 12 August 2019 | Karla
As you all know, the pound sterling has taken quite a beating in the markets over the last few years. I have done my best to absorb the worst of the impact by keeping our prices down as much as possible and only buying what I was confident was popular enough to be in demand and in small quantities, in order to make funds go further. The GBP was showing signs of, at least, a partial recovery and had recovered to about $1.40 for a brief time, and I was able to start re-ordering older patterns and in larger quanties.
Sadly, the GBP has gone into freefall again, sinking as low as it had post-referendum. This means that I will be reverting to buying less stock and concentrating on the items that are on the "notify me when back in stock" list or items that you have specifically requested.
I will do my very best to avoid having to put prices up, but I hope you can understand that 3 years of vastly reduced profits will be having quite an impact on my small business. As I'm sure you're all aware, sewandso.co.uk have closed their doors and I can only imagine that the hostile economic environment for importers has played a part.
Thank you so much for staying with us for the last few years. Without you, there would be no us.
Much love from Karla, Carol and Jane