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Next Retail has raised its profit forecasts for the year by £12 million to £1.26 billion, attributing this unexpected boost partly to unusually warm weather and successful cost-cutting measures. The company’s total sales were up 9% in the first half of the year, pushing pre-tax profits up by 11% to £566 million. While Next is optimistic about its current performance, it expresses concerns over rising inflation, mortgage interest costs, and a weak employment market, warning that these issues could be exacerbated by potential tax increases.
Written by the local model on 2026-09-17,
using this article's own text rather than the other coverage of the
same event.
Why this leaning score
This article does not take a side on a contested political
question, so it has no leaning score. That is an
answer rather than a gap: a match report or a rescue can be warmly
or critically written without being left or right, and scoring it
anyway is how approval of a subject gets recorded as a political
position.
No political leaning scored for article 15425 · logged 2026-09-17
Next has thanked warmer weather for an “unexpected” boost in sales, leading the clothing retailer to raise its profit forecasts for the fourth time this year.
asserted
Next → thank → time
The FTSE 100 company, which owns the UK rights to the US brands Gap and Victoria’s Secret as well as stakes in labels including Reiss and Joules, raised its expectations for full-year profits by £12m to £1.26bn.
asserted
which → own → 1.26bn
It is the fourth time Next has raised profit forecasts this year, with the company having last ratcheted up its expectations in early August, as Europe faced a series of heatwaves.
asserted
Europe → raise → heatwaves
Next, which has more than 500 stores across the UK, said in a stock market update on Thursday: “The first half was much better than we originally anticipated, both in the UK and overseas.
“
asserted
we → have → UK
It is important to acknowledge that part of this overperformance has been the result of two unusually warm summers in the UK.
asserted
part → acknowledge → UK
The rest of the overperformance is, we believe, largely the result of fulfilling the aims we outlined at the beginning of the year.
asserted
we → believe → year
That has included some cost-cutting efforts, particularly across Next’s warehouses.
asserted
That → include → warehouses
Overall, total sales across the group were up 9% in the six months to July, helping push pre-tax profits for the half-year up by 11% to £566m.
Next said the performance over the past six months was “all the more unexpected given the strength of sales last year”.
asserted
performance → push → sales
It made £1bn of annual profits for the first time last year.
asserted
It → make → time
However, the retailer cautioned on the impact of the rising cost of living and prospects for the jobs market.
asserted
retailer → caution → market
“Our primary concerns are rising inflation, higher mortgage interest costs and a weak employment market.
asserted
concerns → rise → ?
These worries will only be compounded if they are accompanied by tax increases,” it said, in an apparent reference to John Healey’s first budget on 28 October.
asserted
it → compound → October
“It seems likely that it [the government] will have to increase taxes in order to fund its expenditure.”
While the group said it was deploying AI across the business, including its tech division, Next said it was ensuring fashion designs were still led by humans.
asserted
designs → seem → humans
“In a world where AI is able to do more and more, our experience suggests that consumers prefer the authentic creativity of human beings,” it said.
uncertain
it → do → beings
“That means we are putting more emphasis on designers using techniques that connect them directly to the artwork – painting, drawing, screen printing, etc.
asserted
that → mean → artwork
That is a big investment in time, and requires a higher level of creative talent than is needed to operate CAD [computer aided design] or prompt AI.”
asserted
That → require → AI
Aarin Chiekrie, an equity analyst at Hargreaves Lansdown, said: “Next delivered its first-half results in style, with sales growth accelerating over the period and breezing past the fashion company’s original guidance.
asserted
growth → say → guidance
In the UK, hotter-than-expected weather and more effective marketing saw customers logging in to refresh their summer wardrobes online, helping offset a small decline in-store.”
asserted
customers → expect → store
Shares rose 2% in early trading on Thursday, making Next the top riser on the FTSE 100.
asserted
Next → rise → FTSE
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