Trading
Next’s 2022 trading outlook dependent on UK wage inflation -CEO
Published by maria gbaf
Posted on January 7, 2022
1 min readLast updated: January 28, 2026
Global Banking & Finance Review®
Company
Published by maria gbaf
Posted on January 7, 2022
1 min readLast updated: January 28, 2026
Next's 2022 trading outlook depends on UK wage inflation. CEO Simon Wolfson discusses potential price rises due to increased costs.
LONDON (Reuters) – The trading outlook for British clothing retailer Next in 2022 is very dependent on what happens to wage inflation, its boss said on Thursday.
“A lot depends on what happens to wage inflation,” Simon Wolfson told Reuters after Next reported better-than-expected Christmas trading.
“The positive for retail is that we can adjust our pricing. So if wage inflation is in line with our price increases, I don’t think it will be, but if it is then it’s not going to be nearly as much of a problem as if wage inflation is a long way behind our prices,” he said.
Wolfson added that wage price inflation is a bad thing for the economy as a whole – “so I’m not advocating it in any way.”
Next forecast its prices would rise 3.7% in the first half of 2022 and 6.0% in the second half due to higher freight rates and increased manufacturing costs.
(Reporting by James Davey, Editing by Paul Sandle)
The main topic is how UK wage inflation impacts Next's 2022 trading outlook and retail pricing strategy.
Wage inflation affects Next by influencing their pricing strategy and potential profit margins.
Next forecasts a 3.7% price rise in the first half and 6.0% in the second half of 2022.
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