British retailer Next raises profit forecast on lockdown exit optimism

British retailer Next raises profit forecast on lockdown exit optimism

British fashion retailer Next upgraded its full-year profit forecast for the second time in two months on Thursday, after sales soared when stores were allowed to reopen in April following the latest lockdown.

Sales in the past three weeks were significantly higher than in the same period last year, with pre-tax profit in the 2021-2022 fiscal year now expected to be £720 million ($1 billion), up from the company's £700m April forecast.