Next raises profit guidance as sales boom

Exterior of Next store in retail park

Next has increased its full-year profit guidance for the third time this year as sales and profits boomed during its first half.

The fashion giant reported profit before tax of £420m for the six months to July 2023, up 4.8% compared with the same period in 2022.

Total group sales were up 5.4% year on year to reach £2.64bn during the period, while the retailer said its brand full-price sales also increased by 3.2%.

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