1 Billion Profit From Higher-Spending Shoppers

Next Plc expects profit to expand to nearly £1 billion ($1.3 billion) this year as rising wages free up British shoppers to spend more on fashion.

The British fashion and homewares retailer, whose performance is a closely watched indicator of consumer demand, stuck with guidance it gave in January that it will generate £960 million of profit in 2024/25.

"It has been a long time since we started a year in a more positive frame of mind," chief executive officer Simon Wolfson said in a statement Thursday, adding that the consumer environment is more benign.

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