Next Warns It Will Raise Prices If Middle East War Persists

Next Plc said the conflict in the Middle East will add £15 million ($20 million) of costs and warned it will raise prices if the war persists, taking some of the shine off another upward nudge to the UK retailer’s profit guidance.

The added costs related to the Iran war have been offset so far by savings elsewhere, Next said Thursday, adding that it would start to pass on costs to customers if the conflict lasts beyond three months. The impact on supply chain resilience, consumer demand and shipping costs would also depend on how long the instability goes on and the damage to energy infrastructure, it said.