Next is right to greet its Christmas cheer with caution | Nils Pratley

Retailer’s impressive festive season comes at end of a tricky year and its performance may not signal a high street upturnSalvation for retailers? Next’s mildly upbeat report on its pre-Christmas trading was good for share prices in the sector, but nobody overdid the cheer – and rightly so.First, it is hardly a revelation that properly cold weather is useful for shifting coats and jumpers. Second, Next runs to its own financial rules. It can tolerate a 6% plunge in sales in its