British clothing retailer Next has not seen a noticeable drop off in UK sales since the US-Israeli war on Iran started at the end of February, its boss said on Thursday.
"Eight weeks, including the war weeks, have been good in the UK," CEO Simon Wolfson told Reuters after Next published full-year results.
He said sales in the Middle East, which account for about 6% of the group's annual turnover, fell "dramatically" in the first few days of the war and demand remains "suppressed.”
Wolfson said if Next did have to raise prices around June or July to make up for higher costs caused by the war, the increases would only be 1% to 2%.
