The high street retail giant Next has revealed annual profits topped £1 billion despite the impact of the Chancellor’s Autumn Budget.
Next reported pre-tax profits of £1.01 billion in the year to January 2025 which rose 10.1% compared to the previous year.
Chief executive Lord Simon Wolfson told the PA Agency, “We’re concerned that the opportunities for employment in the economy will diminish, we hope we’re wrong, but that’s the biggest concern.”
Lord Wolfson added, “We expect the UK tax rises in April to weaken the UK employment market and negatively impact consumer confidence as the year progresses.”
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