Fashion chain Next’s profit rises 6% to €650m

FASHION chain Next reported better-than-expected results, despite a challenging year for its high street outlets.

The company was unable to comment on the performance of its Irish stores but said increased store space, cost cutting and stock management had helped it post a 6% increase in pre-tax profits to £449.1 million (€650m). Next has 31 stores in the Republic of Ireland and Northern Ireland.

The company said combined sales for the first seven weeks of this financial year were up 5.6% on 12 months earlier, but the competitive and economic environment was likely to remain tough over the coming year.