Next set to compound retailing sector gloom
Middle market fashion retailer Next is expected to post another fall in quarterly sales this week due to a mixture of gathering economic uncertainty and a cold, rainy June.
City analysts expect like-for-like sales at the chain’s high street shops to have fallen up to 8 per cent in the second quarter, which takes in the Brexit vote late in June, when it reports on Wednesday.
The collapse in the value of sterling after the vote is seen as compounding Next’s difficulties by pushing up its input costs.
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