Next warns of 'challenging' 2017 after Christmas downturn

Share price plummets 12 per cent in early morning trading following 0.4 per cent drop in sales over festive season

Next

High street fashion chain Next has warned that 2017 will be "challenging" after reporting a downturn in sales over the festive period.

Full-price sales year-on-year were down 0.4 per cent in November and the first 24 days of December, said the retailer, while annual profits for 2016 are now expected to be £792m, the lower end of previous forecasts of between £785m and £825m.

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