May 10, 2018
Next up 7%; Superdry down 11%
Next is glowing but Superdry is sinking in early morning markets action. Shares in Next have leapt by almost 7 per cent at the start of trading, driven by an upgrade to profit forecasts from the high-street stalwart. Warm weather and fizzing online sales led the purveyor of clothes and homewares to bump up profit forecasts - a relative rarity for a company accustomed to warnings of gloom. Smaller Superdry is not so rosy, with its shares sinking by 11 per cent. More modest top-line and margins will come as a negative surprise, especially on a day when Next have reported surprisingly strong numbers.
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