UK’s Next smashes sales forecast, upgrades profit guidance


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LONDON — British fashion retailer Next said it had soundly beaten its expectations for full-price sales, with a rise of 19% in the last 11 weeks compared with two years ago, and as a result it was increasing its profit guidance.

The company, which had assumed its sales would rise by around 3%, increased its central guidance for full-year profit before tax by 30 million pounds ($41 million) to 750 million pounds. ($1 = 0.7351 pounds) (Reporting by Sarah Young and Paul Sandle; Editing by Kate Holton)