Next Warns That Summer Heat's Benefit May Be Short-Lived
- Shares fall after U.K. retailer says sales boost won’t last
- Full-price sales under Next brand slightly below expectations
This article is for subscribers only.
Next Plc shares fell after the U.K. apparel chain warned that a boost from shoppers splashing out on hot-weather wardrobes won’t last.
Full-price sales under the Next brand gained 2.8 percent in the 12 weeks through July 28, the Leicester, England-based retailer said Wednesday, just below analyst estimates. The shares fell as much as 6.4 percent in early London trading, the most since November.