Next, the high street fashion giant, has put out an unscheduled trading update following better than expected sales. The Leicestershire-based retailer said sales over the last few weeks had been much better than it had anticipated – partly thanks to the heatwave bringing shoppers out for summer clothes, and partly thanks to people getting pay rises.
Shares jumped 5 per cent on the announcement to £67.40, after the business said it expected sales of £4.67 billion for the year – up £137 million on its previous guidance – and raised its full year profit guidance by £40 million to £835 million.
Sales for the last seven weeks were up more than 9 per cent on the same period last year – after stating in May that it had expected sales would be down 5 per cent year-on-year.
