Next warns of 8% price rise for spring and summer

Retail elephantine Next has warned that it volition summation prices for its outpouring and summertime apparel and location goods by 8% arsenic rising costs bite.

Shoppers volition besides spot terms rises widen into the autumn and winter, the retailer said, but the summation volition not beryllium arsenic sharp.

While Next reported beardown trading implicit the Christmas period, it gave a cautious outlook for the twelvemonth ahead.

It said precocious vigor bills and owe costs would dampen user demand.

Next said it expects terms increases crossed its concern volition easiness backmost to "no much than" 6% successful the 2nd fractional of the twelvemonth arsenic issues specified arsenic shipping costs settee down and the outgo of cardinal items similar fabric and polyester decline.

The High Street elephantine reported a 4.8% emergence successful income for the 9 weeks to December 30 pursuing a "dramatic boost" from the acold upwind past month.

"We judge that the spot of request for acold upwind products successful December was partially a effect of pent-up request from an unusually lukewarm October and November," it said.