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

Zoe Gillespie, investment manager at RBC Brewin Dolphin, said: “Next continues to buck the retail trend, with profits on track to reach £1 billion annually. Although the group has highlighted potential weakness in its UK division – partially explained by poor summer weather – significant growth across its international operations is more than making up for that. There may be no further acquisitions planned for the remainder of the year, but Next is in a prime position to seize the right opportunities when they do arise. With inflation falling, consumer optimism on the rise, and an increasingly diversified offering, Next is in a very strong position – which is reflected in the tone of today’s update.”