Next Lifts Profit Forecast Again on Strong Holiday Sales

Next Plc raised its profit forecast for a fifth time this financial year after sales at the British retailer soared in the key Christmas period.

The fashion and homeware company now expects £1.15 billion ($1.6 billion) in pretax profit this fiscal year, up from its October guidance of £1.14 billion. Full-price sales rose 10.6% in the nine weeks to Dec. 27, Next said Tuesday in a trading update, on track to beat its outlook for the quarter.