Next Plc is learning to live with lockdowns.<\/p>\n
Chief Executive Officer Simon Wolfson said the worsening pandemic and the U.K.\u2019s new Covid-related restrictions won\u2019t ruin the whole year as the clothing chain is better prepared now than during previous closures.<\/p>\n
\u201cThis is traditionally the quietest time of year, so I don\u2019t expect the impact to be as big as during the first lockdown,\u201d Wolfson said in an interview. \u201cWe are also much better geared up to<\/span> deal with a lockdown than we were the first time around.\u201d<\/p>\n Next shares rose as much as 8.8% in London after the linchpin of British shopping areas reported better-than-expected full-price sales for the holiday period, helped by its online strength. Those gains will be eroded by the new lockdown, the chain said Tuesday, but it\u2019s looking ahead to a rebound after mass vaccinations kick in later this year.<\/p>\n \u201cWe expect a severe impact in February and March, less so in April and May and then from July onwards we expect a return to more normal business,\u201d Wolfson said.<\/p>\n