British clothing retailer Next has maintained its sales and profit outlook in the ongoing fiscal year following the release of its 2023-24 financial report, which reveals a modestly better-than-expected 5 per cent increase in profits.
Considered a barometer of British consumer sentiment, Next affirmed its forecast of achieving a pre-tax profit, excluding exceptional items, of £960 million ($1.23 billion) for the fiscal year 2024-25, with a projected 2.5 per cent rise in full-price sales.
Exceeding its guidance, Next secured a profit of £918 million for the fiscal year ending January 27, 2024. The retailer surpassed the projected £915 million. Total sales for the period climbed by 5.9 per cent to reach £5.84 billion.
Despite potential disruptions from stock delays attributed to the Suez Canal's shipping disruptions, Next indicated no immediate anticipation of significant adverse impacts.
