Sales at Next showed an overall decline of 3.5% for its third quarter when compared with last year, with year-to-date revenues down 1.5%, though total sales including markdowns were up a marginal 0.4%.

The retailer predicted a difficult September compared with last year, as this was its best trading month. Sales were down 5.1% for the month compared with the previous year, following a similarly disappointing August where sales fell by 7% compared with August 2015. This, said the home, garden and fashion retailer, was because it followed the much larger end-of-season sale in July.

October sales improved "significantly as comparative weeks last year became less challenging," with revenues up 1.3%.

Next has now narrowed its sales guidance to -1.75% to 1.25% compared with its previous range of -2.5% to 2.5%. The mid-point of its new sales range is marginally lower than previous guidance. However, said the retailer, "cost savings have also been better than expected, so our central profit forecast remains unchanged at £805m."

The Next Christmas trading statement for the period to December 24, 2016, will be released on January 4