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Next Implements 1% Price Hike Amid Rising Costs

1/8/2025

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Summary

Story summary

Next plans a 1% price increase to counteract a £73m rise in staff wages and taxes.
Increased National Insurance contributions and the National Living Wage will raise employer costs.
The company forecasts UK sales growth to slow, predicting a 1.4% increase in 2025.
Despite retail challenges, profits are expected to exceed £1bn.
Online sales rose by 6.1%, while UK store sales declined by 2.1%.

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Story summary

Next plans a 1% price increase to counteract a £73m rise in staff wages and taxes.
Increased National Insurance contributions and the National Living Wage will raise employer costs.
The company forecasts UK sales growth to slow, predicting a 1.4% increase in 2025.
Despite retail challenges, profits are expected to exceed £1bn.
Online sales rose by 6.1%, while UK store sales declined by 2.1%.