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Britain's No. 2 clothing retailer Next increases profit forecast as sales rise

Reuters
January 4, 2013, 3:12 pm TWN

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LONDON -- Next, Britain's No. 2 clothing retailer, nudged its full-year profit forecast higher on Thursday as it reported a rise in sales in the run-up to Christmas along with better margins.

Kicking off the post-Christmas UK retail reporting season for listed companies, Next, which has a long standing policy of never going on sale before Christmas, said it expected a year to end-January 2013 pretax profit of 611-625 million pounds (US$995-US$1.02 billion).

Its previous guidance was 590-620 million pounds.

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