Next raises profit outlook after "better than expected" December quarter

Next plc full price sales during the months of November and December were better than anticipated.

The company said in a statement that in the nine weeks to December 30, full price sales were up 5.7 percent versus last year, which was 38 million pounds ahead of the previous guidance of up 2 percent for the period.

Next has increased its full year pre-tax profit guidance by 20 million pounds to 905 million pounds, up 4 percent versus last year.

The company said that of the 20 million pounds increase, 17 million pounds came from the sales beat to date and 3 million pounds from an upgraded forecast for full price sales in January.

The company assumes that full price sales for the core Next business including retail, online, Label and Next finance interest income will be up 2.5 percent against the current year.