Next and HMV count cost of lost sales as big freeze puts dent in profits

RETAILERS HMV and Next reported a drop in sales as fears mount the bad weather impacted greatly on December trading.

Next said that clothes prices will probably rise by about 8% in the first half of this year, while HMV is planning to shut around 60 stores.

Next, Britain’s second biggest fashion chain behind Marks & Spencer, said sales at shops open at least a year fell 6.1% from August 1 to December 24.