Next shares slump after gloomy 2017 forecast and unfestive figures

Fashion retailer biggest faller on FTSE 100, with Marks & Spencer and Debenhams also down after rival predicts slowdownNext’s share price slumped by more than 14% after the fashion and homewares retailer warned of lower-than-expected profits this year and a tough year ahead as a result of rising inflation and shoppers switching away from buying clothing.Its chief executive, Simon Wolfson – a prominent Vote Leave campaigner, said consumers were buying less clothes and instead spen