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Friday 15 December 2017

Warm weather hits Next

bad day for

Britain's second biggest clothing retailer Next cut its profit guidance after a warm autumn left its coats, scarves and jumpers stuck on shelves, sending an ominous sign to rivals ahead of the Christmas season.

Shares in Next fell as much as 4.4pc as the company spelled out the impact on demand of Britain's driest-ever September and a mild October.

Third-quarter sales in the 13 weeks to October 25 grew just 5.4pc on a year before, below a previous 10pc forecast from the company.

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