Next to hike prices by up to 8% outside Europe due to Iran war costs
Next said higher transport and energy costs from the Iran war are forcing it to lift prices overseas by up to 8% from May.
- Clothing retailer Next reported a 6.2% rise in first-quarter full-price sales today, announcing plans to mitigate ongoing cost increases linked to the Iran war through modest overseas price rises.
- The retailer increased its estimated Middle East conflict cost hit to £47 million from the £15 million guidance given in March, citing disruption to international shipping and local distribution networks.
- First-Quarter sales beat the 4% growth guidance, leading Next to nudge its full-year profit forecast to £1.218 billion, up from £1.210 billion previously projected for 2026/27.
- To offset £27 million in international distribution expenses, Next will implement price rises of up to 8% in markets outside Europe from May, while maintaining stable UK pricing at 0.6%.
- PanmureLiberum analysts noted the profit upgrade "stands out given ongoing sales and cost pressures," though the group cautioned it may adjust pricing if war-related disruptions worsen further.
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20 Articles
Next Navigates Price Hikes Amid Middle East Conflict
British clothing retailer Next plans to counteract cost increases from the Iran war through moderate price hikes and cost savings. Reporting a better-than-expected 6.2% rise in sales for the first quarter, the retailer also increased its full-year profit forecast despite shares dipping 5% this year.
Next to hike prices by up to 8% outside Europe due to Iran war costs
No extra price rises are slated for the UK, which saw better than expected sales in the first quarter. Source link : https://www.bbc.com/news/articles/cjrp8e0rjpeo?at_medium=RSS&at_campaign=rss Author : Publish date : 2026-05-06 08:43:00 Copyright for syndicated content belongs to the linked Source.
Evening Standard
Next to hike prices overseas as it faces higher Iran war cost hit
The fashion and homewares chain increased its estimated cost of the Middle East conflict to £47 million from the £15 million guidance given in March.
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