Next takes fashion tips from financial world
LONDON (Reuters Breakingviews) - Next is taking fashion cues from bankers, which doesn’t mean just donning a Hermes tie. The British high-street clothing chain has subjected itself to a stress test, previously the preserve of the financial world. In the worst scenario, where the average branch’s sales dip 6 percent a year for a decade, the net profit margin of its store portfolio will halve. Openness about the problems facing retailers is welcome. But this voluntary exam glosses over big risks.