Next PLC (LSE:NXT) has increased profit guidance for the fourth time in recent months as sales in its third quarter grew more than expected.
The Leicester-based retailer has nudged up its full-year pre-tax profit forecast by £10 million to £885 million.
Full-price sales in the quarter to 28 October were up 4.0% on last year, £23 million ahead of previous guidance, with online sales up 6.5%, while retail sales fell 0.6%.
The firm said sales had been volatile, which it put down to changing weather conditions rather than any underlying changes in the consumer economy.
In an Autumn season cooler weather is good for sales, warmer than average weather depresses sales, it explained.
Reflecting this, Next showed sales in the warmer week to 10 September fell 7%, while in the week to 15 October, which saw wet and stormy weather, sales rose 16%.
Next now expects full-year full-price sales to rise 3.1% to £4.74 billion, with pre-tax EPS up 4.1% to 730.2p.