UK clothing retailer Next Plc once again upgraded annual earnings guidance, with full year profits now expected to hit almost £1bn as recent full price sales "materially exceeded" forecasts.
The company, which lifted its prospects outlook for the second time in two months, said interim profits for the six months to July surged 7.1% to £452m and said sales in the first six weeks of the second half of the year had risen 6.9%.
Second-half sales growth was upgraded to 3.7%, up from previous guidance of 2.5%.
Next also lifted 2024/25 pre-tax profits forecasts by £15m to £995m, up 8.4% on the previous year, despite a soggy summer and spring in the UK which hit all clothing retailers.
Reporting by Frank Prenesti for Sharecast.com