Next profits halved

HIGH street fashion chain Next has said profits for the last year were slashed by more than half after its stores were shut for large parts of it.

However, the group also raised its profit forecast for the current year, as it hailed soaring online sales in the past eight weeks.

Next told investors yesterday that online sales over eight weeks from the start of February were “stronger than expected” and more than 60% ahead of the same period two years ago.