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Next PLC raised its profit outlook again on Thursday, as sales in the retailer’s second quarter beat expectations, aided by warmer weather in the UK. The Leicester, England-based clothing and homewares retailer said full price sales in the 13 weeks to July 26 surged 11% on-year. Growth of 6.5% had been expected. The measure excludes sales events and clearances. Next, which did not give a figure for total full prices sales for the period, added that outcome was £49 million ahead of guidance. ‘In the UK, we believe that the over-performance was largely due to better than expected weather and trading disruption at a major competitor. International sales grew faster than expected, mainly because our digital marketing proved more effective than anticipated, enabling us to increase profitable marketing expenditure,’ it said. Fellow retailer Marks & Spencer Group PLC in April halted online orders following a cyber attack. Earlier this month, Stuart Machin, chief executive of the London-based high street firm, said he hopes its online operations will be running ‘fully’ within four weeks as it continues to recover. Next upped full price sales guidance for the second half to a 4.5% rise from 3.5%. It said it remains ‘cautious’ about the second half. For the full-year it now expects full price sales of £5.44 billion, a rise of 7.5% on-year. Its guidance was raised from £5.36 billion. Total sales growth of 6.3% to £6.72 billion is now expected, the outlook lifted from £6.63 billion. In addition, it raised annual pretax profit guidance to £1.11 billion from £1.08 billion. The profit measure excludes brand amortisation. It would represent growth of 9.3% from £1.01 billion a year prior. Statutory pretax profit in financial 2025 totalled £987 million. Next reports half-year results on September 18. Next shares fell 0.9% to 12,170.00 pence each in London on Thursday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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