The Guardian ·
Next forecasts bigger profits after hot weather lifts sales
FTSE 100 retailer, which owns UK rights to US brands Gap and Victoria’s Secret, says prices could rise in autumn
Next has thanked warmer weather for an “unexpected” boost in sales, leading the clothing retailer to raise its profit forecasts for the fourth time this year.
The FTSE 100 company, which owns the UK rights to the US brands Gap and Victoria’s Secret as well as stakes in labels including Reiss and Joules, raised its expectations for full-year profits by £12m to £1.26bn.
It is the fourth time Next has raised profit forecasts this year, with the company having last ratcheted up its expectations in early August as Europe faced a series of heatwaves.
