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Next says profit will be hit if warm weather continues

Published 30/09/2014, 07:29
Next says profit will be hit if warm weather continues
NXT
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LONDON (Reuters) - British clothing retailer Next (L:NXT) said on Tuesday it will have to lower its full-year profit forecast if the country's unusually warm autumn weather continues.

The firm said that at present its profit forecast for the full year remains within previous guidance given on July 29 and reiterated on Sept. 11.

"Our experience suggests that some lost sales are regained when the weather turns. However, if this unusually warm weather continues for the full duration of October then we are likely to lower our full year profit guidance range of 775-815 million pounds," it said.

Next said third quarter sales to date were up 6 percent, lower than its previous forecast of 10 percent.

(Reporting by James Davey; editing by Jason Neely)

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