Next reaps rewards as global fashion trends ‘converge’ via social media
by Sarah Butler from World news | The Guardian on (#6QVB0)
Annual profits near 1bn as chain's international expansion boosts sales
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Next has said international tastes in fashion are converging" as tech platforms expose consumers to global trends, boosting the retailer's overseas sales and helping it close in on 1bn in annual profits for the first time.
The fashion and homeware retailer forecast its annual profits would be 15m more than previously expected, at 995m - up from the 918m recorded in 2023 - after overseas sales rose by 23% in the six months to July, offsetting a near 1% decline in sales of Next-branded clothing in the UK.
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