Jan 4, 2017
FTSE 100 slips as gloomy Next outlook hits shares
Its shares dived 12% after it said sales fell 0.4% in the run-up to Christmas and added full-year profits would be at the low end of forecasts. Next also warned that 2017 would be "Another challenging year", and predicted a fall in profits. The news hit shares in other retailers, with M&S down 4.4% and Primark owner Associated British Foods dropping 4.2%. The falls pulled the FTSE 100 back from Tuesday's record closing high, with the UK's benchmark share index down 2.17 points at 7,180.06 in early trade. There was better news for discount retailer B&M European Value Retail, which reported a 7.2% increase in UK like-for-like sales in the three months to 24 December. Shares in the FTSE 250 company jumped 5.2% on the news.
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