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The Latest Breaking News from Simon Wolfson

Next to reveal jump in profit despite rising costs and trade war uncertainty

The retail giant will post its first quarter results on May 8, hot on the heels of revealing annual profits of more than £1 billion.

The Independent UK

The British mega-retailer whose CEO writes the company’s earnings statement just clocked up a record $1.3 billion profit

“Next is the envy of the retail sector,” an investment director said, as it became only the fourth British retailer to hit the £1 billion profit milestone.

Fortune

Next continues success story by reporting first £1bn in annual profits

Retailer ‘defies gravity’ to become only fourth in UK to pass £1bn profit threshold

The Guardian - UK

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Next boss issues warning on the impact on jobs of NI changes

the Next boss said the Government should stagger the introduction of the NI changes rather than introduce them in one hit in April

Evening Standard

Big retail will cope – but Reeves’ NICs raid is too much, too soon for part-timers

In the hospitality sector, where labour costs are a bigger proportion of the overall base, employers have fewer options

The Guardian - UK

Next and the beautiful arithmetic of long-termism

The dawn of a new era of faster profits growth from overseas and ‘platform’ operations are among reasons for the retailer to be cheerful

The Guardian - UK

Next in line for £1bn of profits as internet shopping peaks

Next boss Simon Wolfson today declared that internet retail shopping has peaked and that the future of the high street is sunny as his company headed towards annual profits of £1 billion for the first time.

Evening Standard

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Next impresses City with strong sales boost

Next sales online jump in the last quarter leaving the high street giant on track for £1 billion of profits next year, a level few UK retailers have ever matched.

Evening Standard

Hope for the high street as Next profits soar

Rival mid-market stores such as Ted Baker and Superdry have struggled lately, but Next and M&S power on

Evening Standard

Next cheers retail sector with bumper profits and price drop

Shares hit record high as fashion and homeware chain says it ‘feels like it is entering a new era’

The Guardian - UK

Next warns of stock shortages if Red Sea shipping problems continue

Next boss warns extra two and a half weeks must be added to stock delivery times for products coming through Suez Canal

The Independent UK

Next upgrades profit forecast again as cool weather helps sales

Retailer expects to make £10m more profit than previously predicted, taking full-year target to £885m

The Guardian - UK

Co-op boss urges police to take shoplifting more seriously after £33m cost

Matt Hood says shoplifting increasingly seen as crime with no consequences with rise in organised gangs looting stores

The Guardian - UK

Bank of England governor says ‘no room for complacency’ after leaving interest rates on hold – as it happened

BoE policymakers were split 5-4 on interest rates this month, with a narrow majority voting to leave Bank rate at 5.25%

The Guardian - UK

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Evening Standard

Next ups profit forecasts again as CEO hails the return of the suit

Return to offices boosts demand for traditional smart clothing

Evening Standard

Retail titans are going on a canny shopping spree

If current trends continue there will be two titans fighting over the scraps of fashion retail: Simon Wolfson and Mike Ashley.

Daily Mirror

'Next could owe us £100m - our shop jobs ARE equal to men's in warehouses'

A tribunal agreed that the work of 2,000 female Next sales staff was of equal value to that of males in the firm’s warehouses who earn between £2 and £14 an hour more

The Guardian - UK

Next forecasts drop in spring sales amid cost of living crisis and cold weather

Chain’s CEO Simon Wolfson warns of ‘very challenging’ 2023 after signalling price rises of 7%

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Asharq Al-Awsat

Britain’s Next Sees Lower Clothing Inflation, Shares Dip on Cautious Outlook

British fashion retailer Next (NXT.L) reported a better-than-expected 5.7% rise in annual profit on Wednesday and said it would not need to increase prices by as much as previously thought. However, it still expects higher spending on wages, energy and technology to reduce its profit this year, and the retailer's…

Evening Standard

Next targets more takeovers as it defies economic turmoil with surging profits

NEXT again showed why it is the king of the high street today with a leap in profits that defy the consumer slowdown and leave it set for more acquisitions of rivals.

Birmingham Post

Next share price jumps after positive Christmas trading despite warnings 2023 will be tough

Market analysts say “under-promising and over-delivering” has become a Next hallmark

Insider UK

Joules to shut 19 stores, despite rescue deal by Next and founder

133 jobs are to be lost at the fashion retailer, following its administration

The Independent UK

Brexit blues: From Wetherspoon to Next, the company bosses who loved Leave until reality hit

Retail boss Lord Wolfson said this was “not the Brexit he wanted” as the country faces labour shortages

Daily Mirror

Tory Brexiteer boss of Next moans this is 'not the Brexit I wanted'

Prominent Leave-backer Lord Wolfson said firms were desperate for labour and urged the Government to loosen immigration rules to help businesses recruit staff

Birmingham Post

Brexit backer and Next boss Lord Simon Wolfson says it was ‘definitely not the Brexit I wanted’

‘We have got people queuing up to come to this country to pick crops that are rotting in fields….and we’re not letting them in’

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