High street clothing and homewares retailer Next Plc (LON:NXT) has reduced the upper end of its full-year profit and sales guidance after reporting a drop in first-quarter sales at the bottom-end of its range of expectations.
Richard Hunter, head of research at Wilson King, tells Proactive: ''It was probably a little bit lower than expected''.
''If you look at the retail business - the store business - sales were down by over 8%. Not only that they have also trimmed their new guidance in terms of profits''.