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British retailer Next says trading volatile

Reuters - UK Focus

LONDON, Sept 15 (Reuters) - British clothing retailer Next (EUREX: NXTJ.EX - news) reported a 1.5 percent fall in first half profit on Thursday and said trading since July had been challenging and volatile.

Next (Other OTC: NXGH - news) has been Britain's most successful clothing retailer of the last decade but it warned in March that 2016 could be its toughest year since 2008, given underlying weakness in demand for clothing which dates back to late 2015. Its shares have fallen by over a quarter so far this year.

The firm, which trades from over 500 shops in Britain and Ireland (Other OTC: IRLD - news) , some 200 mainly franchised stores overseas and online, said on Thursday it made a pretax profit of 342 million pounds ($452.8 million) in the six months to the end of July.

It said full price sales were down 0.3 percent on a comparable basis. ($1 = 0.7553 pounds) (Reporting by Kate Holton, editing by James Davey)