Next Raises Profit Outlook Despite Middle East Conflict

0:00On March 26, UK retailer Next has raised its profit outlook to 1.2 billion pounds for the year ending January 2027, despite extra costs from the Middle East conflict. The company estimates the war could add 15 million pounds in fuel and freight expenses if it lasts three months, but it's covering those right. Now with savings elsewhere and doesn't expect any hit to overall profits. Earlier this week, Next reported strong results for the past year, with pre-tax profits up 14.5% to 1.16 billion pounds and sales climbing nearly 11% to 7 billion pounds. Boos came from overseas sales on sites like Zalando, new brands such as Cath Kittston and solid UK performance both in stores and online, even as Middle East sales, which make up 6% of turnover, face headwinds through summer. Looking ahead, Next is stocking up 6% more inventory for supply chain buffers and wrapping up AIU's and warehouses and forecasting to cut.

1:03Costs and Tweet jobs for better efficiency, setting a steady path forward.