Next raises yearly profit forecast to £1.26bn after sales surge
Business
Next, the British retailer, just raised its yearly profit forecast to £1.26 billion after a surprise sales surge during the warmer months.
Sales jumped 9% in six months up to July, pushing pretax profits up 11% to £566 million.
Next credits warehouse cuts marketing AI
Next credits its success to cutting warehouse costs and more effective marketing that worked well with the hot weather, plus a bit of AI in its tech (though it says creativity still needs humans).
Shares climbed 2%, making it the top performer on the FTSE 100.
Still, Next is keeping an eye on rising inflation and possible tax hikes, warning these could make things tougher down the road.