Next boosts profit forecast as Covid crisis fuels online sales surge

Retailer raises profit guidance for year ahead to £700m after online business jumps by 60%

Next has upgraded its profit guidance by £30m for this year as a surge in online sales offset the impact of its shops being closed until 12 April.

The clothing and homewares retailer said it now expected profits to be £700m in the year to the end of January 2022, compared with previous expectations of £670m. The upgrade was partly because online sales had jumped 60% in the first eight weeks of the new financial year, compared with the same period two years ago.

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