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Next ups profit forecast by £30m

First half trading update brought forward by one week.

CITY & CORPORATE

Next ups profit forecast by £30m

For the 25 weeks from 25 January to 18 July total Next Retail sales were up 1.4 per cent,
like for like sales in the 394 stores that traded continuously were down -1.9 per cent, Next Directory sales were up 1.1 per cent and total Next Brand sales were up 1.3 per cent.

"As a result of better full price Next Retail sales and improved clearance rates we have added a further 15m to our internal profit forecast for the first half. Our product negotiations and sourcing have gone better than planned and we now anticipate that our bought in gross margin for the second half will be better than expected. As a result we have also added 15m to our internal profit forecast for the second half, " Next said.

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