Next maintains profit outlook after sales rise

Clothing retailer Next kept full-year guidance that was cut in September as it reported a 0.4% rise in third-quarter full-price sales, slightly ahead of its expectations.

Next trades from about 500 stores and online and is often considered a gauge of how British consumers are faring. It said today it still expected full price sales for the rest of its 2022-23 year to fall 2% and a full-year pretax profit of £840m, up 2.1% versus 2021-22. The group said full-price sales in the last five weeks of its quarter to October 29 were up 1.4%, boosted by one particularly strong week at the end of September, when temperatures dropped and sales of heavier weight products improved.

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