Morning:
6°c
Next shareholders should definitely not vote Conservative at the coming general election.
If they want the High Street fashion retailer to continue thriving, they don't want its youthful chief executive Simon Wolfson to be drafted into the first David Cameron government.
Wolfson is giving nothing away on his political ambitions. "I haven't been asked," he says.
But you can't take the politician out of the shopkeeper and his thoughts on 2010 at Next read much like many of the part conference speeches we will hear over the next few weeks.
"Next year we anticipate the public-sector deficit will become the dominant influence on the economy...risks of further tax rises...reduced disposable income...VAT increases...downward pressure on employment."
So Wolfson's ready and still budgeting for falling sales. But he's not retreating to the bunker. The biggest change at Next has been its switch to far more fashion-led lines. Trends from the Paris and London shows are in stores, in several ranges, in weeks. As Wolfson says: "You can guarantee failure in our markets by repeating last year's best sellers or you can be risky, get it right and win. "
But he still acts cautious, leaving room to continue beating City forecasts. Next shares have doubled in 11 months. Investors should pray that Wolfson remains conservative not Conservative.
Next tells City to raise forecasts after first half turns out smart
