The latest sales update from Next plc notes a number of likely effects on trading caused by the weather, namely strong weeks derived from a cooler August, but a warmer September proving harmful to sales.
Next reports that the overall effect is that Q3 sales to date are up 6% – lower than the forecasted +10%.
However, Next's profit forecast for the year remains optimistic, as the retailer expects to recoup lost sales as the weather turns – despite admitting that if warm weather continues throughout October, it is likely to lower its full-year profit projection from £775m to £815m.
