- Next has significantly increased its estimated financial impact from the Middle East conflict to £47 million, a sharp rise from the £15 million predicted in March.
- The fashion and homewares retailer anticipates continued disruption throughout its financial year, extending until January next year, leading to higher transport and energy costs.
- To offset these costs, Next plans to implement price increases of up to 8 per cent in certain international markets starting from May.
- However, the company has assured customers that diligent cost-saving measures will prevent additional price hikes across its UK and European operations beyond previously forecast increases.
- Despite the conflict's impact, Next nudged up its full-year profit guidance to £1.22 billion, following better-than-expected full-price sales growth of 6.2 per cent in its first quarter.
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