Consumer
Next Lifts Profit Target Again as Autumn Fashion Sales Surge
- Retailer’s shares hit record high after profit upgrade
- Sales in Next’s growing overseas arm rose 23% in first half
A Next store in Bury St. Edmunds, UK.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Next Plc shares hit a record high Thursday after the retailer raised its profit guidance for the second time this fiscal year, citing strong sales of autumn clothing.
The British fashion and homewares company said that its annual pretax profit is now expected to reach £995 million ($1.3 billion), up from previous guidance of £980 million.