Tough times for Next

Next is this week expected to become the latest UK fashion chain to warn of tough trading on the high street, despite unveiling profits at the top end of the market's expectations. Full year profits are tipped to be about 20 per cent ahead year-on-year at £425m. But after poor trading figures from rivals such as French Connection, analysts expect that chief executive Simon Woolfson will report that sales have dipped in recent weeks.