Next is often considered a good barometer of how British consumers are faring
A Next logo is seen outside a store in central London, Britain January 3 2017. Picture: REUTERS/STEFAN WERMUTH
Next, which trades from about 500 stores and online and is often considered a good barometer of how British consumers are faring, said inflationary pressures were expected to ease as freight costs drop and the cost of goods improve. Next has shown more resilience than most to the cost-of living crisis in Britain and is considered by analysts to be one of the best run retailers in the country. Its shares had been up 16% this year, prior to Wednesday's update.
That reflected a significant reduction in container freight costs and improving factory gate prices — the price at which it purchases goods — due to increased factory capacity and efforts to move production to more cost effective areas.
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