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Evening Standard
Evening Standard
Holly Williams

Next reveals £15m cost hit from Iran war and warns prices may need to rise

The Middle East accounts for around 6% of Next’s annual sales (Mike Egerton/PA) - (PA Archive)

High street chain Next has revealed a £15 million cost hit from the Iran conflict and warned it may need to hike prices if the war is prolonged.

The fashion and homewares retailer said it had set aside the cash to cover additional costs for fuel and air freight because of shipping disruption and soaring oil prices, but that the impact so far can be offset by savings elsewhere in the business.

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