Summary
Fashion company Next saw a sales increase following a cyber-attack on M&S. The company reported a 10.5% rise in full-price sales and raised its profit forecast for the year. Next expects a profit exceeding £1.1 billion by January 2026.
Key Facts
- Next reported a 10.5% increase in full-price sales for its third quarter.
- The company raised its profit forecast for the fourth time in eight months.
- Next expects to make over £1.1 billion in pre-tax profit by January 2026.
- UK sales weakened compared to earlier in the year but were still better than expected.
- M&S faced a cyber-attack in April, which affected online orders and store stock.
- M&S services were disrupted until June, impacting customer deliveries and data.
- Next owns over 800 stores in the UK and Ireland and sells online in more than 70 countries.
- Sainsbury's also reported sales growth linked to the M&S cyber-attack.
