Next: down 9% in London after profit warning.

(CercleFinance.com) - The Next share is currently down 9% on the London Stock Exchange, the worst performer in the FTSE 100 index.


The textile retail group has cut its forecasts for the current year (2016/2017) and expects that 2017/2018 will also be difficult.

At the end of the 54 weeks to 24 December, Next's total sales (including discounts) fell 0.4%, says the group. Full-price sales decreased by 1.1%.

Next mentions a difficult period and has lowered its annual forecasts, considering that its current financial year (2016/2017) will be closed at the end of January. Full-price sales, previously expected to fall by 0.25% in the middle of the range, are currently down 1%. It now targets pre-tax earnings of 792 million pounds, against about 805 million pounds previously.

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