Next sales surge even as inflation weighs on shoppers

Next went into the pandemic warning it presented the global retail industry with its biggest threat in nearly half a century.

Fashion chain Next said store sales soared in the first quarter as stores stayed open following the end of pandemic restrictions, even as inflation squeezes shoppers’ disposable income.

The clothing and homewares chain said sales across Ireland and the UK jumped by 285% in a strong start as it reiterated it expected annual pretax profit of £850m (€1bn) in the year through January.