Shares in Next, Britain's second largest clothing retailer, top the listof FTSE 100 index risers, hitting a year high and gaining up to 8percent in early trading, after beating guidance for third quarter sales andedging up its full-year sales, pretax profit and earnings per share forecasts.
Cantor Fitzgerald retail analyst Freddie George says the outcome is "apositive surprise" considering that Britain's warm autumnal weather has nothelped clothing retailers.
He says he continues to prefer Next to Marks & Spencer, whichpublishes results on Nov. 5, raising his target price to 5,200 pence from 5,000pence.
Next shares are up by 6.3 percent at 5,535 pence by 0845 GMT, outperforminga 0.5 percent gain on the FTSE 100.
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Marks & Spencer (MKS)
Next (NXT)