Next smashes £1bn profit mark as growth continues
Retail giant Next has kicked off the year on a high, reporting record-breaking profits and raising its outlook for the year ahead.
The Enderby-based fashion and homeware retailer saw annual pre-tax profits soar by 10.1% to £1.011bn for the year ending January 25, 2025, marking its first time surpassing the billion-pound mark.
Revenue also climbed 11.4% to £6.12bn, up from £5.49bn.
Full-price sales increased by 5.8%, with total group sales – including subsidiaries – rising 8.2%.
While UK retail sales dipped by 2%, online sales in the UK grew by 3% compared to 2023.
Strong performance in the first eight weeks of its 2025/26 financial year has led Next to revise its sales forecast upwards, now expecting 6.5% growth in the first half, up from its previous 3.5% estimate.
The full-year sales growth forecast has also been upgraded from 3.5% to 5%.
Led by CEO Lord Simon Wolfson, Next projected pre-tax profit for the year to be £20m higher than the January forecast, reaching just over £1bn.
A spokesperson from Next said: “To some it may seem an important milestone, even a cause of celebration. We do not share that view, not least because profits can go down as well as up. We think it would be a big mistake to view the company differently just because it has passed any milestone.”
