Next issues profit warning amid “challenging” conditions
Leicester-based retail giant has posted a drop of 3% in sales for its first quarter to 29 April, amid what it is calling a "challenging" trading environment.
The firm has also issued a profit warning, reducing its upper end sales growth for the year to just 0.5% and that it now expects profits to be £740m at best - down £40m from last year.
In a statement, Next said: "The UK consumer environment remains challenging, particularly in the clothing and homeware markets, and real wage growth is now close to zero.
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