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Next Cuts Sales Outlook Again as Spending Outlook Worsens

  • Retailer sees `significant' improvement in last few days
  • First-quarter sales miss estimates on unfavorable weather
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Next Plc, the British clothing retailer, cut its sales forecast for the second time this year, yet signaled an improving performance in recent days as warmer weather has sent Britons shopping for summer apparel.

Next now expects full-year sales to fall within a range of negative 3.5 percent and 3.5 percent growth due to weaker demand for clothing, the Leicester, England-based company said in a statement Wednesday. Still, the company said it’s seen a “significant improvement” over the last few days as U.K. temperatures have risen. The shares rose as much as 3.4 percent in London.