High street chain Next has announced today to expect disappointing trading conditions for the upcoming season, even though their annuals profits went up with 4 percent. The fashion retailer is preparing itself for hard economy to come and the impact of soaring costs on its consumers for fuel, household and mortgage. Next’s main target market of 25-45 year olds is likely to suffer the most. For the first half of this year, Next is expecting a sales drop of 4-7 percent across the chain. The clothing chain is predicting no spending recovery in the rest of the year.

It’s not all bad for news for fashion retailer Next. The pre-tax profits of £498.1m for the 12 months to 31 January went up with 19.7m in comparison to last year’s results. This was accomplished by the success of Next Directory mail order and internet divisions. The firm reported these results were fairly positive taking the economical conditions into account.

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