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Next’s 2022 trading outlook dependent on UK wage inflation -CEO

Published by maria gbaf

Posted on January 7, 2022

1 min read

· Last updated: January 28, 2026

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Next's 2022 Trading Outlook Hinges on UK Wage Inflation

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)

Key Takeaways

  • Next's 2022 trading outlook is linked to UK wage inflation.
  • CEO Simon Wolfson highlights the impact of wage inflation on pricing.
  • Next anticipates price rises due to increased costs.
  • Wage inflation poses challenges for the UK economy.
  • Retailers can adjust pricing to mitigate wage inflation effects.

Frequently Asked Questions

What is the main topic?
The main topic is how UK wage inflation impacts Next's 2022 trading outlook and retail pricing strategy.
How does wage inflation affect Next?
Wage inflation affects Next by influencing their pricing strategy and potential profit margins.
What are Next's price forecasts for 2022?
Next forecasts a 3.7% price rise in the first half and 6.0% in the second half of 2022.

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