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Next boss: ‘People do not buy a new outfit to stay at house’

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The boss of Next has warned that the store faces a “very significant drop in sales” as a results of the impact of coronavirus at the trade.

Lord Wolfson stated on-line gross sales have been “likely to fare better” than the malls, however would additionally endure “significant losses”.

“People do not buy a new outfit to stay at home,” he added.

When coronavirus first seemed in China, Lord Wolfson stated Next assumed the danger used to be to its provide chain.

However, he stated: “It is now very clear that the risk to demand is by far the greatest challenge we face and we need to prepare for a significant downturn in sales for the duration of the pandemic”.

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