Clothing retailer Next has today reported a 10.1% rise in annual profit, making in excess of a billion pounds for the first time, and raised its guidance for sales and profit growth in its new financial year.
Next said today it made a pretax profit of £1.011 billion in its year to January 25 2025, joining supermarket Tesco and clothing and food group Marks & Spencer in achieving the landmark figure.
Total group sales rose 8.2% to £6.32 billion.
The group said full price sales in the first eight weeks of its 2025/26 year had been ahead of its expectations.
This prompted it to upgrade its guidance for full price sales growth in the first half to 6.5%, from 3.5% previously, resulting in guidance for the full year to be growth of 5%, compared to 3.5% previously.
Next also raised its pretax profit guidance by 5.4% to £1.066 billion.
