Next reports sales growth but warns tax hikes could stifle UK consumer spending
2 reports, 2 independent
Updated Sep 17
Gone quiet
Reached 2 outlets in its first 24 hours
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.
What happened
Next reported that its profit before tax rose 10.5% year on year to £569m during the first six months of 2026, with total group sales increasing 9% to £3.54bn. Despite this performance, the retailer moderated its sales growth forecasts for the second half, citing concerns over inflation, high mortgage costs, and a soft employment market.
Why it matters
The retailer downgraded its UK sales outlook from 2.8% to 2% for the second half of the year, warning that further tax increases could pressure already strained shoppers. Next called for Chancellor John Healey’s inaugural Budget to control government spending and implement supply-side measures to boost growth.
Who's involved
- John HealeyThe Chancellor whose inaugural Budget Next called for to address fiscal discipline