Next increases profit guidance as warm weather triumphs

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Fashion giant Next has upgraded its full-year profit and sales guidance as the effects of the warm weather and annual salary increases pay off.

In a trading update for the seven weeks to June 19, 2023, Next posted a 9.3% increase in full-price sales year on year, which it said was “materially better” than the 5% decline in sales previously forecasted.

The fashion giant also exceeded its full-price sales predictions for the period by £93m.

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