Next Cites Rate Hike Fears and Inflation for Expected Sales Dip
UKPulse Money Desk
Fashion retailer Next anticipates a reduction in sales this winter, attributing the expected decline to consumer concerns over potential interest rate increases, rising inflation, and a challenging job market.
- Next expects its sales to be affected this winter.
- The retailer links this to Britons' fears of interest rate hikes.
- Rising inflation and a tough jobs market are also cited as factors.
Fashion retailer Next has indicated that its sales are likely to be impacted this winter. The company attributes this forecast to British consumers' anxieties regarding potential interest rate increases.
Next also stated that a tough jobs market and rising inflation are contributing to consumers being deterred from shopping on the High Street.