UK clothing retailer Next has seen its profits before tax for 6 months (ended July 2022) go up by 16 per cent to £ 401 million.
However, the retailer has cut down its full-price sales forecast for the second half of its financial year from £ 860 million to £ 840 million. That’s still an increase of 2.1 per cent from last year.
Amidst cut in sales, the retailer added that trading in August too has been below expectations.
August trade was down by 3 per cent compared with the same period in 2021, due to the heatwave hitting the summer sale.
The British clothing retailer generates £ 3,284.1 million and is also known for its footwear and home products.
