Next is set to report 13% drop on sales over Christmas period

Next is set to lower its full-year profit forecast due to a decline in sales over the Christmas period.

According to Jefferies, an analyst firm, the company is set to post a 12.7% drop in in-store sales.

It’s not all doom and gloom for the retailer, although store sales are down, the online arm of the business is set to report a 10% increase.

Jefferies’ James Grzinic said “The combination of mild weather and Brexit-induced UK consumer weakness is bound to have impacted Next’s Christmas performance.”