LONDON, March 26 (Reuters) – British clothing retailer Next warned the U.S.-Israeli war on Iran will \u200clikely impact costs, selling prices and consumer \u200cdemand as it reported a 14.5% rise in annual profit on \u200bThursday.<\/p>\n
The group said the conflict may restrain its growth in the Middle East, which accounts for about 6% of total turnover.<\/p>\n
Next said it had accounted for \u200c15 million pounds ($20 \u2060million) of additional costs likely to arise from the conflict, such as fuel \u2060and air freight, on the assumption that the disruption lasts for three months.<\/p>\n
It said these costs have \u200bbeen offset \u200bby savings elsewhere, so \u200bdo not affect its \u200cguidance for the new financial year.<\/p>\n
“Beyond the next three months, if we see these costs persist, then we will begin to pass costs through as higher pricing \u2013 but for today that remains a contingency \u200cnot a plan,” Next said.<\/p>\n
The \u200bgroup edged up its guidance \u200bfor profit in \u200bits 2026\/27 year and kept its guidance \u200cfor sales growth to \u200bslow.<\/p>\n
It said sales \u200bin the first eight weeks of the new year were encouraging in the UK and \u200bwere also strong \u200coverseas up to the point the Middle \u200bEast conflict began.<\/p>\n
($1 = 0.7482 pounds)<\/p>\n
(Reporting by James Davey, \u200bEditing by Paul Sandle)<\/p>\n","protected":false},"excerpt":{"rendered":"LONDON, March 26 (Reuters) – British clothing retailer Next warned the U.S.-Israeli war on Iran will \u200clikely impact…\n","protected":false},"author":2,"featured_media":36714,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[16336,16334,16333,34,16332,16335],"class_list":{"0":"post-36713","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-iran","8":"tag-clothing-retailer","9":"tag-consumer-demand","10":"tag-impact-costs","11":"tag-iran","12":"tag-next","13":"tag-selling-prices"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@iran\/116294402864712921","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/36713","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/comments?post=36713"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/36713\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media\/36714"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media?parent=36713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/categories?post=36713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/tags?post=36713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}