Next’s results stand out against a tough retail backdrop

FTSE 100 retailer Next is dealing well with the tough conditions on the high street, with rising profits and a plan that's working. Rupert Hargreaves looks at the numbers.

Next retail shop
Next's plan seems to be working
(Image credit: © Alex Segre / Alamy)

The UK retail sector is struggling (to put it mildly). Consumer confidence is crumbling in the face of rising inflation, and cost pressures are also wreaking havoc for companies. Against this backdrop, FTSE 100 retailer Next (LSE: NXT) should be struggling. Indeed, every single retailer that has reported earnings this year has warned that costs will rise, and profits will take a hit as a result.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Explore More
Rupert Hargreaves
Contributor and former deputy digital editor of MoneyWeek

Rupert is the former deputy digital editor of MoneyWeek. He's an active investor and has always been fascinated by the world of business and investing. His style has been heavily influenced by US investors Warren Buffett and Philip Carret. He is always looking for high-quality growth opportunities trading at a reasonable price, preferring cash generative businesses with strong balance sheets over blue-sky growth stocks.

Rupert has written for many UK and international publications including the Motley Fool, Gurufocus and ValueWalk, aimed at a range of readers; from the first timers to experienced high-net-worth individuals. Rupert has also founded and managed several businesses, including the New York-based hedge fund newsletter, Hidden Value Stocks. He has written over 20 ebooks and appeared as an expert commentator on the BBC World Service.