Next raises 2022 forecast despite slump in profits during pandemic

Next Arndale

Next has raised its profit guidance for the 2021/22 financial year despite a slump in earnings during the coronavirus crisis.

The fashion giant suffered a 53% drop in pre-tax profit to £342m in the year to the end of January as the businesses battled what it called “a crisis unprecedented in living memory”. Operating profit tumbled 50% to £384.2m.

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