Belfast Telegraph

Clothing retailer Next set to report fall in profits

By Staff Reporter

Next, which has around 20 stores in Northern Ireland, is expected to report a drop in full-year profits on Friday as the high street remains under extreme pressure from a consumer spending slowdown.

A consensus of City analysts are pencilling in an 8% fall in annual pre-tax profits to £725m and the figures will come at a time of growing concern for brick-and-mortar retailers.

As well as the administrations of Toys R Us and Maplin, Debenhams, Mothercare and Carpetright have all issued profit warnings this year.

Next has not been immune from the malaise, but the clothing chain posted a surprise rise in sales over Christmas.

Belfast Telegraph

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