Strong trading at Next’s summer sale as shoppers continue to spend more on clothing than expected has prompted a second profits upgrade at the retailer in just over six weeks.
Next, which has about 550 stores in the UK and Ireland and is considered a good barometer of British consumer spending, said it expected to make £845m in annual profit, £10m more than previously forecast, as last month’s exceptionally wet weather dampened, but did not snuff out, shopper demand.
