LONDON—British fashion retailer Next raised its full-year profit outlook for a fifth time in 10 months after beating guidance for sales in the run-up to Christmas, boosted by an unexpected revival in demand for adult formal and occasionwear.
As the first major UK retailer to update on Christmas trading, Next set a high bar on Thursday for rivals as it reported a 20 percent rise in full-price sales in the eight weeks to Dec. 25 versus the same period in 2019 before the pandemic began.
