Clothing retailer Next set to report fall in full-year profits

High street giant Next is poised to report a fall in full-year profits this week, as the market looks for any signs of price hikes to mitigate the effects of the plunging pound.

The retail bellwether is expected to reveal a 4% slide in annual pre-tax profits to £792m (€913m), down from £821.3m (€947m) last year, as a shift in spending away from clothing and footwear takes its toll on sales.