England's euro exit hurts merchandisers
It's not just the fans of the English football team who are in mourning: Due to unrealized advertising and sponsorship income, jersey sales, TV rights sales and promotions, the British economy is losing out on around one billion pounds.
The fact that England lost to Croatia and will therefore not be able to take part in the upcoming European Football Championship is not only saddening for England fans: the British economy is losing out on around one billion pounds due to unrealized advertising and sponsorship income, shirt sales, TV rights sales and promotions. This is how much was lost during last year's World Cup, as calculated by the British Retail Consortium. The sporting goods manufacturer Umbro, which sells the shirts of the British national team, has already had to issue a profit warning. As Werben und Verkaufen writes, the share price not only plummeted at Umbro, but also at the Sports Direct chain of stores, which has a stake in Umbro and lives from the merchandising business.
