Next to repay business rates relief after sales surge

Next Westgate

Fashion giant Next has increased its profit guidance for the financial year, with sales and profits “materially ahead” of expectations following a strong trading performance.

In a trading statement for the 11 weeks to July 17, Next reported that full-price sales were up 18.6% on pre-pandemic levels. It used a two-year comparison “as comparisons with last year are not meaningful”.

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