Next to unveil blockbuster £1bn profit as it defies the retail gloom to report bumper sales
Daily MailNext profits will surpass £1billion for the first time as it once more defies retail gloom with bumper sales. Profits boom: Next boss Lord Wolfson is known for making cautious forecasts and then exceeding them Just three British retailers – Tesco, Marks & Spencer and B&Q-owner Kingfisher – have recorded profits of £1billion or more. The upgrade from Next came as it said sales in the three months to October 26 were 7.6 per cent higher than the same period a year earlier. Clive Black, equity analyst at Shore Capital, said: ‘No amount of modesty or caution changes the fact that this is shaping up to be an excellent year for Next.’ The critical ‘golden quarter’ for retailers is under way, with rivals including M&S and Primark also hoping for a bumper Christmas.
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Next to unveil higher sales and profits despite consumer spending pressure
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