Next Sales Surge Even as Inflation Weighs on U.K. Shoppers
- Store sales jump 285% in first quarter as restrictions ease
- Retailer sticks to its revised full-year profit guidance
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Next Plc said store sales soared in the first quarter as they stayed open following the end of pandemic restrictions, even as inflation squeezes shoppers’ disposable income.
The British clothing and housewares chain said sales jumped by 285% in a strong start as it reiterated that it expects annual pretax profit of 850 million pounds ($1.07 billion) in the year through January, in a statement Thursday.