(Adds details)
LONDON, Oct 28 (Reuters) - British fashion retailer Next
upgraded its full-year profit guidance for the third
time in as many months after full-price sales in its third
quarter exceeded its expectations.
The company, which does more than half of its sales online,
said full-price sales rose 2.8% in the 13 weeks to Oct. 24, its
fiscal third quarter.
It said its full-year pretax profit was now forecast at 365
million pounds, 65 million pounds higher than its central
scenario given in September.
However, it added there was a high degree of uncertainty in
its estimates, and the biggest risk was whether England,
Scotland and Northern Ireland would follow Wales' decision to
shut non-essential retail shops as part of tougher COVID
measures.
Next said its online sales were strong in the quarter,
showing a rise of 23.1%, offsetting a 17.9% drop in retail.
Home and childrenswear continued to perform well, it said,
while demand for men's and women's formal and occasion clothing
remained weak.
(Reporting by Paul Sandle; editing by Kate Holton)
Next (NXT)
