Full price sales at Next were up 5.8% in the year to January 2025, while total group sales increased 8.2% to £6.3bn.
Group profit before tax for the year was £1,011m, up 10.1% on the previous year. The results make Next the fourth UK retailer to pass the £1bn profit threshold.
Following these strong results and full price sales for the first eight weeks of 2025 being ahead of expectations, Next has upgraded its full price sales guidance for the first half to be up 6.5% (up from 3.5%) resulting in sales for the full year to January 2026 being up 5% (from 3.5%).
Pre-tax profit guidance for the year also increased by £20m to £1,066m, up 5.4%.
The online UK business say sales increase by 4.6% and profit up by 8%.
Despite the positive results, the retailer exercised caution in its report and said: “We expect he UK tax rises in April to weaken the UK employment market and negatively impact consumer confidence as the year progresses.
“The estimate for the second half might seem pessimistic, given the strong start to the year, but when compared to two years ago this forecast looks more realistic.”
