Next says Middle East conflict could add £15m to costs and push up prices

Clothing and homeware retailer working on assumption that war could last three months

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Next has warned that the war in the Middle East will add £15m to its costs on the assumption it will last three months, adding that prices will have to go up if the conflict persists beyond that.

The UK clothing and homeware retailer said it was currently offsetting the additional costs on fuel and air freight with savings elsewhere and it did not expect any affect on profits for the year ahead.