Clothing & Shoes

Next raises guidance despite seeing profits halve

The decline in profits was driven by store closures throughout ‘a significant portion’ of the period, as total group sales dropped 17% to £3.6bn

Next has increased its forecasted profits for 2022 by £30m, despite  seeing its profit before tax falling 53% year-on-year to £342m for the year ended January 2021.

The decline in profits was driven by store closures throughout “a significant portion” of the period, as total group sales dropped 17% to £3.

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