Next set to break £1bn profit barrier as sales soar

Next, the Enderby-based retail giant, has upgraded its full-year profit guidance after sales soared in its third quarter.

The company says it will make a surplus of over £1bn in its current financial year after sales in its third quarter to October 26 were up 7.6% – ahead of the expected 5% rise.

Next said in a statement: “We believe the strong performance was driven by the early arrival of colder weather this year, versus an unusually warm September and early October last year.”

Next’s share price has soared by over 26% this year on the back of successive upbeat trading updates, and closed on Wednesday (October 29) at £101.50 each.

The firm is set to give an update on sales to Saturday 28 December, on Tuesday 7 January 2025.