BUSINESS LIVE: Next reveals better-than-expected Christmas; Morrisons sees early festive sales lift;

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BUSINESS LIVE: Next reveals better-than-expected Christmas; Morrisons sees early festive sales lift; Hipgnosis makes another music rights swoop

By This Is Money

Published: | Updated:

Next has said festive sales were better than expected, but warned the trading boost will be ‘almost entirely’ wiped out by the third English lockdown and higher costs of its end-of-season sale.

The fashion and homewares chain said it now expects pro-rata 52-week annual profits of £370 million for the year to the end of January, against £365 million previously pencilled in.

Meanwhile Morrisons has revealed sales soared 9.3 per cent in the past three weeks over the key Christmas trading period, compared with the same time a year ago.

Bosses said they also saw an uptick in sales in November due to remaining open as ‘essential’ retailers during the second national lockdown in England.

Hipgnosis Songs has acquired more music rights; this time the catalogue of Fleetwood Mac lead guitarist and vocalist Lindsey Buckingham.

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