In an unscheduled trading update, Next reports that trading in the last seven weeks has been materially better than the guidance the retailer issued in May.
Full-price sales in the first seven weeks of Q2 were up +9.3% YoY (compared to guidance of -5%), beating Next's full-price sales estimates by £93m.
Accordingly, the retailer is upgrading its full-price sales guidance for the full year by £137m, and its full-year profit guidance by £40m to £835m.
The retailer puts this success down to the onset of warmer weather after such a wet and cold April, and the fillip in household income provided by annual salary increases.
