Next PLC (NXT.L)
24 May 2017
LONDON British clothing retailer Next lowered its full-year profit guidance on Thursday after cash-strapped shoppers stayed away from its stores in the first quarter, sending its shares down almost 7 percent.
LONDON British clothing retailer Next reported its first drop in annual profit since 2009 and said it was "extremely cautious" about the year ahead but its battered shares rose on hopes its management has got to grips with its problems.
Britain's three quoted major supermarkets are expected to report this week that they enjoyed solid Christmas trading, though investor concern about a potential squeeze on consumer spending in 2017 means the focus is on their outlooks.