Pound Drop Takes 15% Off Air Jordans for Irish Border Shoppers
- Sterling’s decline pushes Irish shoppers across the border
- Retail pain a microcosm of Ireland’s broader Brexit problem
A billboard advertising money changing services sits in Newry, Northern Ireland.
Photographer: Charles McQuillan/Getty ImagesThis article is for subscribers only.
“Letterkenny loves sterling -- if you’ve got sterling, we want you. Shop LK is a giveaway -- for sterling!”
That was the radio slogan deployed by Letterkenny, a town about a 25-minute drive from the border that divides the island of Ireland, as it sought to lure U.K. shoppers south last year. At that point, one pound bought 1.40 euros. Now, as it buys about 1.12 euros, the pound has lost its luster, making Letterkenny a little less attractive.