Retailer Next today reported a 10% rise in annual profits but admitted that forecasting current trading was harder than it has ever been.
The chain has cut its profits guidance for 2022/23 by £10 million to £850 million, which reflects an £18 million hit from the closure of websites in Russia and Ukraine but offset by better-than-expected sales in the UK.
The results came as Brent crude stood above $120 a barrel, adding to market worries about impact of energy costs on company margins and consumer spending power.
