Next and B&M both upgraded forecasts today after bumper festive trade.
Next, led by Lord (Simon) Wolfson and widely regarded as one of the best run businesses in Britain, now expects profits for the year of £822 million. That is a £22 million upgrade on previous forecasts. It is the fifth time Next has raised profit forecasts in the past 12 months.
The upgrade came after a 20% jump in sales in the eight weeks to Christmas Day, compared with two years ago before Covid-19 struck. Strong demand for party-wear over the festive period helped, Next said.
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