Next Plc Warns of Future Pain as Sales Surprise: The London Rush

Home and clothing retailer Next seems reluctant to take a win. Its sales weren’t quite as bad as they previously feared, but instead of raising guidance for the full year, they’re saying next quarter will be worse. “Shareholders might wonder why we are so cautious for sales in Q2,” the company said in its statement. The company might be wise to be cautious around its shareholders — consumer giant Unilever Plc faced a revolt yesterday as shareholders rejected its directors pay report at its AGM, a rebuke for a messy year.

Here’s the key business news from London this morning: