Next warns of higher prices as costs rise

Published16 minutes ago

Next has said it will raise its prices this year to offset increased wages as well as higher shipping and manufacturing costs.

The retailer said prices for its spring and summer ranges would rise by 3.7%, while it expects a 6% increase for its autumn and winter goods.

Its forecast came as it said sales for the three months to 25 December were up 20% compared with pre-pandemic 2019.

Next also upped its profit forecast for the year.

It now expects to make an extra £22m, taking annual profits to £822m, which would be nearly 10% higher than in 2019.

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