Next is set to make £10m more in annual profits than previously expected after a rise in sales of suits and summer outfits boosted sales despite a squeeze on shoppers’ spare cash from rising energy, petrol and food costs.
The clothing and homeware retailer said full-price sales rose by a better than anticipated 5% in the three months to 30 July, but warned it was expecting a slowdown in growth to just 1% in the second half of the year as the cost of living crisis hit shoppers’ budgets.
