Leicestershire-based fashion group Next sees profits soar to £611m
Fashion giant Next is set to make profits of at least £611 million this year, the company revealed today.
It comes after the Enderby-based group reported robust sales in the run-up to Christmas, mainly thanks to healthy online trading.
The retailer said profits in the year to January 31 were expected to be between £611 million and £625 million, compared to £579 million in the previous 12-month period.
This marks the fourth consecutive year of record profits for the 31-year-old business, which has more than 500 UK stores and employs about 3,500 people in Leicestershire.
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In a statement released this morning, Next said sales at its stores rose 0.8 per cent between November 1 and Christmas Eve, compared to the same period in 2011. However, online trading was up 11.2 per cent, elevating total sales by 3.9 per cent over the period.
The company said there was "little risk of a significant downturn" in high street spending, but gave a cautious outlook for the 2013.
"On balance, we expect the consumer environment to remain subdued but steady," it said.