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Dow Jones Newswires: Next PLC sales in Christmas period better than expected

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By Kyle Morris

Next PLC on Thursday raised its pretax profit guidance for fiscal 2023, but said it expects earnings to fall in fiscal 2024 as the economy is squeezed by inflation.

The London-listed fashion retailer now expects pretax profit of 860 million pounds ($1.04 billion) for fiscal 2023 compared with previous guidance of GBP840 million. Fiscal 2023 full-price sales are seen at GBP4.6 billion compared with GBP4.5 billion previously.

For fiscal 2024, the company sees full-price sales of GBP4.5 billion and pretax profit of GBP795 million.

Buybacks of GBP220 million are expected in the year ahead, it said.

Write to Kyle Morris at kyle.morris@dowjones.com

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