Next blames warm weather for slow sales as shares plummet
High street retailer’s CEO says Brexit is not the cause of downbeat trading picture
Next said the recent warm weather had resulted in “disappointing” sales of its new autumn clothing ranges as the latest official data showed falling high street sales.
The retailer was the biggest faller on the FTSE 100 on Thursday after its chief executive, Simon Wolfson, painted a downbeat picture of current trading. The Conservative peer said that the malaise was down to the weather rather than Brexit woes as demand had been much stronger in parts of the country, such as Scotland, where it had been cooler.Continue reading...