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BOOST FOR FASHION GIANTS NEXT

ABOVE: Next have raised profit forecasts after better-than-expected trading

6th January 2010

By Mauro Galluzzo for Dailystar.co.uk

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FASHION giants Next offered further cheer from the high street today as it raised profit forecasts after better-than-expected trading.

The group said the consumer environment was “more stable than expected” after unemployment rose less than predicted and shoppers benefited from low inflation and interest rates.

Next grew like-for-like sales 3.2% in the 22 weeks to December 24 and now expects full-year profits of between £490 million and £500 million - ahead of its November guidance.

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