Next raises profit guidance after hitting €1.2bn profit while H&M starts year with weaker sales

Retailer Next joins supermarket Tesco and clothing and food group Marks & Spencer in achieving the landmark figure

The company, whose shares are up 5% so far this year, said full-price sales in the first eight weeks of its 2025/26 year had been ahead of its expectations. Photographer: Chris Ratcliffe/Bloomberg

Next has reported a 10% rise in annual profit, exceeding £1bn (€1.2bn) for the first time, and raised its guidance for sales and profit growth in the new financial year.

Next, which is often considered a gauge of how British consumers are faring, said it made a pretax profit of £1.01bn in its year to January 25, 2025, joining supermarket Tesco and clothing and food group Marks & Spencer in achieving the landmark figure. Total group sales rose 8.2% to £6.3bn.