Next raises profit guidance for second time in three monthsTuesday 29 July 2014 07.30
Next has raised its guidance for annual sales and profit for the second time in three months after a strong second quarter, helped by favourable weather and new store openings.
The group - which has 29 stores in Ireland, more than 470 in Britain and 200 stores 40 other countries - said it now expected a 2014-15 pretax profit of £775-815m.
That compares to previous guidance of £750-790m, and would represent growth of 11-17% on the £695m made in 2013-14.
Next said its total sales rose 10.7% in the 26 weeks to 26 July, having been up 10.8% in the first quarter.
Store sales rose 7.5%, while Next Directory sales were up 16.2%.
Next raised its full year sales guidance to 7-10% from 5.5-9.5% previously.