Next, the fashion retailer said trading conditions remained “extremely volatile” as it reported a 2.9 per cent drop in comparable sales at its core chain, and said it remained cautious about the consumer environment.

In tune with Marks and Spencer, its rival which on Tuesday reported six months of lacklustre trading, the retailer said combined sales of Next Retail and Next Directory were up 0.4 per cent compared to last year for the fourteen weeks to November 3.