Next’s annual pre-tax profit has exceeded £1bn for the first time, representing a 10.1% year-on-year increase.
The fashion and homeware retailer’s total sales rose by 4.3% for the year ending 25 January 2025, despite a 1.2% decline in like-for-like sales. Next stressed that challenging UK economic conditions had impacted its result.
However, ecommerce sales climbed 4.6% with online division profits up 8%. Third-party brand sales also rose by 10%.
Next has therefore raised its sales and profit forecast once again, expecting a 4.3% full-year sales increase.
Earlier this month Next was ranked Leading in the RetailX UK500 2025 report, as the retailer continues to enjoy strong growth in the UK market. This is thanks to its core Next fashion and homewares brand and is also a result of enabling other brands to tap into its technology and infrastructure.
“In retail there are no advantages that cannot, in time, be copied or surpassed by others. But staying ahead requires a constant and obsessive effort to improve our technologies, infrastructure and services,” said Next, chief executive, Simon Wolfson in a company profile in the report.
Read the full Next profile in the UK500 2025 report.
Amazon, Tesco, Asos, John Lewis, Cotswold Outdoor, Watches of Switzerland and Simba are also profiled.
The 11th annual report evaluating the performance of retailers, brands and marketplaces selling in the UK. Going beyond simple turnover or traffic, the UK500 measures how these businesses deliver value across the entire retail ecosystem, taking into account evolving consumer behaviour, economic headwinds and disruptive technologies such as AI.
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