Next raises full-year profit outlook

Next reported third-quarter sales growth that beat analysts’ estimates, helped by increased discounts and a comparison with a weak year-ago period.

Revenue under the Next brand rose 7.3 per cent in the 13 weeks to October 24, excluding value-added taxes, the company said. Analysts expected a 6.4 per cent gain. Next also slightly raised the lower end of its full-year outlook, predicting pretax profit of £810 million (€1.1 billion) to £845 million.

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