Next Raises Profit Forecast After Strong Christmas Sales

Here’s a​ summary‌ of the news article:

Next, a fashion retail chain, has ⁢increased ⁢its profit⁤ forecast due to stronger-than-expected Christmas sales. Full-price sales were up 10.6% compared​ to the previous⁣ year,leading to an expected annual profit of £1.15 billion (the fifth time⁤ they’ve raised this forecast in⁢ the past year).

however, Next is warning of slower sales‌ growth in the⁢ coming year. This is ⁤primarily due to anticipated rising unemployment and its impact on consumer spending.​ While UK sales rose 5.9%⁣ over Christmas, and international revenues jumped 38.3%, the forecast for 2026-27 is only 1.6%‌ growth,compared to 6.6% for the current year.

Other factors contributing to the ​expected slowdown include: less favorable ⁣weather conditions ​and⁤ the absence of a ‌boost from a cyberattack that affected a competitor (Marks & Spencer).