Jan 6, 2022
Next predicts highest ever profit after strong Christmas trading
UK fashion chain Next said Christmas trading was ahead of expectations and predicted its highest-ever underlying profit for the coming year. The group had previously predicted that sales growth in the final quarter as a whole would be around half that level. It said sales of formalwear and clothes for special occasions had been particularly strong. It now expects underlying pre-tax profit of £822m for the year ending in late January, which is slightly ahead of consensus forecasts of £813m. For the year ending January 2023, it predicts profits of £860m. That would top the £836m reported in 2016. It cautioned that prices would rise by up to 6 per cent to reflect high freight rates and increased labour and materials costs.
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