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Next says trading "extremely volatile" in latest quarter

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Next says trading "extremely volatile" in latest quarter

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LONDON (Reuters) – British clothing retailer Next <NXT.L> said on Wednesday its sales improved in the latest quarter, though trading was “extremely volatile” and highly dependent on the weather. Next said total full-price sales rose 1.3 percent in the 13 weeks to Oct. 29, its fiscal third quarter, below some analysts’ expectations of a rise of up to 4 percent. They had increased 0.7 percent in the second quarter. Next forecast full-price sales for the full 2017-18 year would come in between 1.75 percent down and 1.25 percent higher. It had forecast a range of down 2.0 percent to up 1.5 percent in September. Next said the mid-point of its pretax profit guidance was maintained at 717 million pounds ($952.3 million). ($1 = 0.7529 pounds)

(Reporting by James Davey; editing by Kate Holton)
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