Next has raised its profit forecasts for the second time in two months and increased first-half profits as it bucked the downbeat trend on the high street.
The FTSE 100 clothing and homewares chain, seen as a bellwether for the wider British high street, reported a 7.1 per cent rise in pre-tax profits of £452 million for the six months to July 27 and said it was on course to make annual profits of almost £1 billion.
Sales rose to £2.95 billion in the first half of the year, up 8 per cent from £2.73 billion during the same period last year.
Next joins the fashion retailer White Stuff in defying a more generally downbeat high street trend as people continue to watch their spending.