January 7, 2020 / 8:17 AM / 11 days ago

Uncertainty in UK grocery market to persist until Brexit clear - Morrisons CEO

LONDON, Jan 7 (Reuters) - Consumer uncertainty will persist in Britain’s grocery market until the terms of Britain’s exit from the European Union become clearer, the boss of Morrisons , the country’s No. 4 supermarket, said on Tuesday.

“I think there’s going to be uncertainty in the market until Brexit becomes clearer,” Chief Executive David Potts told reporters, after Morrisons reported a fall in sales over the Christmas period, blaming challenging trading conditions.

Prime Minister Boris Johnson’s sweeping election victory last month has eliminated the risk of a disruptive no-deal Brexit on Jan. 31.

But a hit to trade remains possible at the end of 2020, when Johnson insists a post-Brexit transition period will end, regardless of whether he can negotiate a trade deal with the European Union before then.

Reporting by James Davey, Editing by Paul Sandle

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