Next Raises Annual Profit Forecast
British clothing retailer Next upgraded its annual profit forecast after posting a 10.5 percent profit rise for the first half of the year. The company expects sales growth to moderate in the second half amid economic concerns.
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NEXT PLC raised its annual profit guidance by £12 million ($16 million) to £1.255 billion on Thursday morning after reporting a 10.5% rise in first-half profit. The British clothing retailer lifted its full-year outlook for the fourth time this year, driven by strong summer weather. Total full-price sales rose 7.7% during the six months ending August 1.
