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Subsequent predicts highest ever revenue after robust Christmas buying and selling

UK vogue chain Subsequent mentioned Christmas buying and selling was forward of expectations and predicted its highest-ever underlying revenue for the approaching 12 months.

Full-price gross sales had been 20 per cent increased within the eight weeks to December 25 than in the identical interval in 2019 earlier than the pandemic started.

The group had beforehand predicted that gross sales development within the ultimate quarter as an entire can be round half that degree. It mentioned gross sales of formalwear and garments for particular events had been significantly robust.

It now expects underlying pre-tax revenue of £822m for the 12 months ending in late January, which is barely forward of consensus forecasts of £813m. For the 12 months ending January 2023, it predicts earnings of £860m. That might prime the £836m reported in 2016.

Nevertheless, it cautioned that costs would rise by as much as 6 per cent to mirror excessive freight charges and elevated labour and supplies prices.

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