Next warns of slowdown in its UK growth after tax increases | masr356.com

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Excessive avenue retailer Next has warned that its growth charge in the UK will sluggish this 12 months because the affect of tax rises launched in the Finances begins to have an effect on the general economic system.

The excessive avenue bellwether expects annual revenue earlier than tax to edge up by £5mn to simply over £1bn for the 12 months to January after sturdy full-price gross sales in the course of the festive interval.

But it surely additionally mentioned that “employer tax increases, and their potential affect on costs and employment” would start to filter via into its UK gross sales growth, referring to chancellor Rachel Reeves’ adjustments to nationwide insurance coverage contributions.

It expects UK full value gross sales growth of 1.4 per cent in the subsequent monetary 12 months, down from 2.5 per cent in the 12 months to December 28.

Nevertheless, the retailer nonetheless forecast revenue growth of 3.6 per cent for the 12 months to January 2026.

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