Next profits to suffer on back of coronavirus crisis, say analysts

Next is set to issue a profit warning this week as the coronavirus crisis starts to affect the retail sector.

Analysts say that Next will revise its outlook down by as much as 9% – or £66m – when it reports this week. The Enderby-based retailer said in January that it expects to make a profit of £734m by its year end, but that could be slashed in Thursday’s announcement.

Next imports around 20% of its products from China.

Richard Chamberlain, RBC’s retail analyst, said: “We expect Next to give a more cautious assessment of the ­outlook now the virus has become more embedded.”