Next raises profit guidance again as summer sales boom

Clothing retailer increases forecast for profit before tax by £10 million to £845 million

Next has about 500 stores in the UK and Ireland plus a large online division offering the company’s own range of fashion as well as third-party brands in the UK and in other countries.

Next raised its guidance for the second time in recent months after wet weather and ongoing inflation failed to deter shoppers from buying fashion.

Full price sales in the second quarter rose nearly 7 per cent on last year, according to the company’s earnings report on Thursday.

That has driven Next, which operates a number of stores in the Republic of Ireland, to increase its forecast for profit before tax by £10 million to £845 ...