Next says prices of its clothes are expected to rise at a lower rate than first feared as it put out a solid set of results.
The high street chain – which has just bought the rights to Cath Kidston – said price rises were set to be “more benign” than previously thought, forecasting increases of 7 per cent this spring/summer, easing back to 3 per cent in the autumn/winter.
It had previously expected the price rises to be 8 per cent and 6 per cent respectively, but said supply chain issues had eased while shipping had also come down. Despite that the business still expects the coming year to be tough.
