Story perspectives

Next PLC lifts profit forecast by £12 million

By Drooid · Sep 17, 2026, 10:16 AM UTC · How we work

Summary

Story summary

Next PLC raised its full-year profit forecast by £12 million to £1.255 billion.
Pre-tax profit rose 10.5% to £569 million for the six months to August 1.
International online sales growth guidance increased to 20.5% from 14.7%.
Shares climbed about 2%-3% in early trading, making Next the FTSE 100 top riser.
CEO Lord Simon Wolfson warned inflation, mortgage costs and possible tax hikes could curb spending.

History

Historical Context

During the 2008 global financial crisis, UK retailer Marks & Spencer reported a 15% decline in pre-tax profit, prompting a £1 billion write-down. The British Retail Consortium noted that consumer spending fell 2.5% that year while mortgage rates rose to 5.5%, squeezing household budgets. Today, Next PLC’s £12 million profit-forecast lift and 20.5% online-sales guidance, announced by CEO Lord Simon Wolfson, echo the post-crisis recovery strategies employed by Marks & Spencer and other FTSE 100 retailers. Analysts expect that, as in 2008, sustained inflation and higher mortgage costs could force retailers like Next to adjust pricing and inventory, shaping the sector’s medium-term outlook.

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Story summary

Next PLC raised its full-year profit forecast by £12 million to £1.255 billion.
Pre-tax profit rose 10.5% to £569 million for the six months to August 1.
International online sales growth guidance increased to 20.5% from 14.7%.
Shares climbed about 2%-3% in early trading, making Next the FTSE 100 top riser.
CEO Lord Simon Wolfson warned inflation, mortgage costs and possible tax hikes could curb spending.

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