Next warns of price hikes ahead

Next warns of price hikes ahead View Gallery

Retailer Next has reported an increase in sales, but warned that prices could rise on the back of sterling weakness.

“In the medium term, the devaluation of the pound is likely to affect the cost price of our goods. There will be no effect on the year to January 2017, as we have fully hedged all our currency exposure. . . Although it is very early in the buying cycle, we currently estimate that cost...

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