Business
Next PLC’s Shares Rise After Sales Outlook Confirmation Despite Possible Hit From Iran War
Shares in Next PLC NXT -1.71%decrease; red down pointing triangle jumped after the U.K. clothing retailer maintained its fiscal-year sales-growth expectations, despite warning that the Iran war could affect costs, prices and consumer demand.
The group said Thursday it had accounted for 15 million pounds ($20 million) in additional costs—including fuel and air freight—tied to the Middle East conflict. The costs didn’t affect Next’s guidance since they have been offset by savings, it said.
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