Sterling-dollar exchange rate pressures have seen the pound weaken since the 23 June EU referendum, with some suppliers suggesting a 10 per cent increase in imported product prices must be passed on.
Nuttall said: "People seem to have had a mixed season. The weather has been up and down and sales have been up and down to reflect that. Overall, it’s been not a bad year.
"But there is a level of uncertainty in the next few months and years following Brexit and how that will pan out with prices. That’s a whole separate discussion that will come up around Glee time. Everyone is playing their cards close to their chests but there is an impact on prices because of the exchange rates and the number of products being imported. People will have to pass that on. There’s only so much a supplier can absorb. Retailers are demanding in terms of margin expectations and there’s only so much suppliers can do to keep themselves profitable in the end. If they have to absorb price increases it is going to affect profitability."
This week, GIMA held a meet the buyer meeting with retailer Wilkinsons at a hotel near Worksop, hosting 39 companies. Further GIMA meet the buyer meetings are scheduled for Glee in September.