Fashion Retailer Next Raises Profit Expectations Again, Shares Soar

Next raised its yearly profit estimate by £25m to £1,243m — the third increase since January. Sales of full-priced items grew 9% last quarter, double what was expected; July alone jumped 12%. Shares rose nearly 7% to an all-time high. Next pointed to sunny weather and shoppers' pent-up demand in the Middle East and northern Europe.