Thu, 18 Sep 2025

Thu, 18 Sep 2025 Next warns UK economy faces 'anaemic' growth

The warning from the clothing chain comes as it reported a 13.8% rise in pre-tax profits.

* Next, the UK-based fashion retailer, has reported a 13.8% rise in pre-tax profits to £515m for the six months to July.
* Despite this strong financial performance, the company is warning of "anaemic" economic growth and declining job opportunities due to high taxes and government spending commitments.
* Shares in Next fell 6% on Thursday during early trading.
* The retailer expects sales growth to slow sharply due to a weakening economy and dampened consumer spending.
* Job vacancies within the chain are down 35%, with steeper falls within stores, according to Next.
* The company has attributed this decline to rising costs, increasing regulation, and displacement through mechanisation and AI.
* The warning from Next comes ahead of the government's Budget in November, when tax and spending plans will be outlined.
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