UK's Next raises full year profit outlook

Next Plc reported full price sales in the first seven weeks of the second quarter increased 9.3 percent versus last year compared to the company’s guidance of negative 5 percent.

In the period under review, Next beat its full price sales estimates by 93 million pounds.

After the positive trading performance, the company has revised the full price sales estimate for the full year by 137 million pounds. The company expects profit before tax to be 835 million pounds, 40 million pounds higher than the previous guidance.

The company believes that the onset of warmer weather has made a significant difference to its trading performance, particularly after a wet and cold April.