Next says price rises will be less than expected

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High Street retailer Next has said it volition enactment up its prices by little than expected this year.

In January, the concatenation warned of an 8% terms hike this outpouring and summer, and a further 6% summation this autumn.

But connected Wednesday it said terms rises successful the 2nd fractional of 2023 would beryllium little steep than antecedently thought owed to falling shipping and accumulation costs.

It came arsenic the retailer reported a large emergence successful income and profits for the twelvemonth to January.

On Tuesday, the retailer besides announced it would bargain the Cath Kidston manner marque for £8.5m, but not its shops.

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