Fashion retailer has today raised its guidance for annual profit by £10m to £845m after full price sales and the end-of-season summer sale came in ahead of forecasts.
The upgrade from Next, which is considered a barometer of how British consumers are faring as it trades from about 500 stores and online, came just six weeks after its last upgrade.
It shows that shoppers continue to defy tough economic conditions.
A year of high inflation and consecutive interest rate rises in Britain have squeezed household incomes, but high street spending has held up.
Next said it sees annual full-price sales 1.8% higher than in its 2022-23 financial year.
Value-retailer Primark - which trades as Penneys here - and Sports Direct-owner Frasers Group have both in recent weeks issued positive updates.
Next's forecast for profits of £845m in its statement today means they will come in 2.9% lower than it made in 2022-23.
