NEXT

Next won an employment appeal overturning a 2024 decision that would have required it to equalise basic pay between shop and warehouse staff, with the tribunal accepting Next’s argument that higher warehouse rates are justified by market recruitment and retention pressures. The appeal did not succeed on several other points: the tribunal upheld findings that Next failed to justify lower night-time and overtime premiums and paid rest breaks for store workers, and rejected Next’s challenge to lower Sunday premiums. Those issues will return to the employment tribunal and the claimants intend to appeal the basic pay conclusion. Next says the judgment vindicates its pay practices and will seek permission to appeal remaining terms. » More on theguardian.com

The Employment Appeal Tribunal sided with Next in a pay-equality dispute and confirmed that different base salaries for store and warehouse employees are permissible due to market conditions. The court found the pay differences justified given differing recruitment and retention pressures and saw no direct sex discrimination. Next will seek permission to appeal over remaining disputed contractual terms, such as paid breaks. » More on de.investing.com

Citi upgraded Next to “Buy” and raised the price target from £155 to £184, sending the stock up about 2.4%. Analysts highlight international growth: the international business delivered a five‑year CAGR of 20% and now accounts for more than 20% of product sales; Citi expects a four‑year CAGR of 17% through 2029. Next beat expectations in the second quarter (full‑price sales +9.2%, international sales +36.9%) and raised its adjusted pre‑tax profit forecast for the year by £25m to £1.24bn; analysts still consider the company’s guidance conservative. » More on de.investing.com