Next enjoy the distant summer as the warm weather increases the demand for fashion

Sales at Next soared as the warm weather and high wages increased demand for fashion. The retailer said yesterday that trading over the past seven weeks has been materially better than expected. Sales during that period were 93 million higher than forecast in May, when it warned of a 5 percent drop in business.

In contrast, sales rose 9.3 percent. Next said full-year sales would be 137 million better than previously estimated. It also raised its guidance profit by 40 million to 835 million. The company put a boom in sales to a warmer weather start that boosted demand for summer clothing after a wet and chilly April.

It also shows annual salary increases, many of which came in April. We don’t think it’s a coincidence that sales are stepping up noticeably at a time of year when many organizations are awarding their annual salary, said a spokesperson for Next.

However, the company warns about a slowdown in its renewals: If rising wages and sudden changes in weather have contributed to overperformance, it is reasonable to expect the effect will diminish over time as ongoing inflation will slowly erode the annual effect. salary increases.