Next warns on profits if warm weather continues

Next on Tuesday warned it was concerned that if warm weather conditions continue the UK-based apparel retailer may not meet is earnings outlook for the year. The retailer said cooler weather in August resulted in several very strong weeks, while warmer weather in the more important month of September has had the reverse effect.

That was reflected in its current sales update, which showed Q3 sales so far are up 6%, lower than its previous forecast for a 10% gain.

Currently, the company said its profit forecast for the full year remains within its guidance, ranging £775m-£815m.

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