Clothing retailer Next has today kept its forecast for annual profit after reporting a 5.7% rise in first-quarter full price sales, slightly ahead of its guidance.
With more than 800 stores in the UK and Ireland and nearly 8 million online customers, Next is often considered a gauge of how consumers are faring.
Shares in Next were down 1% in early trading on Wednesday, paring 2024 gains to 10%, reflecting the lack of a profit upgrade for the year.Last month, Next said prospects for Britain's consumers were the brightest since before the pandemic. "Next should benefit from improving UK real disposable incomes albeit it may still be affected somewhat by the lagged impact from higher interest rates," RBC Europe analysts said.
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