Overview

• Next boosted its full-year guidance for the third time in five months, lifting its sales growth forecast to 7.5% and profit growth to 9.3%, targeting £1.11 billion in pre-tax earnings.
• Full-price sales climbed 10.5% in the second quarter and 10.9% in the first half, driven in part by hot weather and a nearly two-month suspension of M&S’s online operations.
• The retailer expects UK sales growth to slow sharply to around 1.9% in the second half as hikes in National Insurance and the minimum wage weigh on consumer spending.
• Its international division delivered a 28.1% rise in first-half sales and is forecasting 19.4% growth in the second half, fuelled by targeted digital marketing campaigns.
• Next acquired maternity wear brand Seraphine for £600,000, rehiring founder Cecile Reinaud as an adviser to broaden its product portfolio.