Fashion retailer Next has increased its full-year profit forecast for the year ending January 31, 2013. The UK’s second-largest clothing retailer reported a rise in online and in-store sales in the run-up to Christmas as well as better margins.
Next said its pre-tax profit was expected to be £611-625 million, higher than its previous estimates of £590-620 million. The fashion retailer has a policy of no sales before Christmas. Simon Wolfson, chief executive of Next, said the company would open more stores in 2013 as well as expanding the Directory unit.
The company has improved its online delivery times over the past year. Online is much less capital intensive, said Wolfson.
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