Next Raises Forecasts After Shoppers Get Pay Increases
- Sales unexpectedly rose as consumers got annual pay increases
- End of cold spell also boosted sales of spring-summer clothes
Next Plc raised its full-year sales and earnings forecasts, saying consumers are buying more clothes because of salary increases and warmer spring weather.
Next shares rose as much as 6% Monday after the British apparel and housewares chain said pretax profit should reach £835 million ($1.07 billion). The previous forecast was £795 million.