Thursday, June 2, 2011

"I Don't Want A Holiday In the Sun"

Big day yesterday……..the NZD/GBP exchange rate hit 0.5. That means that 1 GBP = 2 NZD.

Given the assumption that GWUK has moved its prices to reflect increasing costs, then over the past five years we have seen a windfall currency gain on products sold in New Zealand of 50%.

Sure would have been nice to see some of that passed back to the consumer over the time.

Ironic that the target was hit on the first day of GW erecting their equivalent of the “Berlin Wall” on product movement.

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