January 3, 2020 / 8:32 AM / 22 days ago

Next CEO not banking on political stability improving consumer outlook

LONDON (Reuters) - The boss of British clothing retailer Next (NXT.L) does not think last month’s decisive election result, which saw Prime Minister Boris Johnson’s Conservatives secure a big majority, will necessarily mean an improved consumer environment in 2020.

“In the year just gone people hugely exaggerated the effect of political turmoil on the consumer. Our observation was the news flow made very little difference to consumer sales in our sector at our price point,” Next Chief Executive Simon Wolfson told Reuters.

“So I’m not expecting the improvement in the political environment to necessarily flow through into an improved consumer environment,” he said after the retailer published a better-than-expected Christmas trading update.

Reporting by James Davey, Editing by Paul Sandle

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