Overview

• Next achieved annual pre-tax profits exceeding £1 billion for the first time, a 10% increase from the previous year.
• The company raised its profit forecast for 2025-26, projecting a 5.4% rise to £1.07 billion, bolstered by better-than-expected trading in early 2025.
• Upcoming UK tax increases, including higher national insurance and minimum wage costs, are expected to add £67 million to expenses, partially offset by price adjustments and operational efficiencies.
• Next plans to open 10 new stores in 2025-26, marking its first trading space expansion in over five years, despite broader declines in store sales.
• The retailer is appealing a tribunal ruling in an equal pay case involving over 3,500 workers, which could have significant financial implications if upheld.