Fashion retailer Next raises profit outlook

For the full year to January 2024, Next said it now expected to report a pretax profit of £875m (€1.01bn)

Next is considered by analysts to be one of the best-run retailers in the country with its shares up around 22% this year.

Clothing retailer Next has raised its full-year profit guidance for the third time in four months as it reported a 4.8% rise in the first half, however, it cautioned a softening in the labour market could dent demand in its next financial year.

Consumers have largely defied high inflation and rising borrowing costs to keep up their spending in 2023.