LONDON, Jan 6 (Reuters) - The trading outlook for British
clothing retailer Next in 2022 is very dependent on what
happens to wage inflation, its boss said on Thursday.
"A lot depends on what happens to wage inflation," Simon
Wolfson told Reuters after Next reported better-than-expected
Christmas trading.
"The positive for retail is that we can adjust our pricing.
So if wage inflation is in line with our price increases, I
don't think it will be, but if it is then it's not going to be
nearly as much of a problem as if wage inflation is a long way
behind our prices," he said.
Wolfson added that wage price inflation is a bad thing for
the economy as a whole - "so I'm not advocating it in any way."
Next forecast its prices would rise 3.7% in the first half
of 2022 and 6.0% in the second half due to higher freight rates
and increased manufacturing costs.
(Reporting by James Davey, Editing by Paul Sandle)
Next (NXT)
