The manager of the British retailer then warned that the flagship bill for the rights of the work of labor of the risk labor requiring “a huge burden on employers”.
The chief executive, Lord Simon Wolfson, who is a conservative peer, said that he was supporting the changes intended to strengthen workers' rights, but stressed that the specific details of the implementation were crucial, in particular around zero hour contracts, that the government has promised.
“The government, of course, is trying to eliminate the unilateral nature of zero hour contracts,” he said. “Hence the retail industry (concern) will come from IS.
The government plans to oblige employers to offer workers a contract reflecting their regular work model, within the framework of its employment bill.
“As long as the threshold is set at the right level, so I think that legislation is a positive thing”, ” Wolf Added. “If it is put in place at a higher level, it could end up depriving many people (from) the possibility of winning an supplement,” he added, and cause “ravages” for companies. Then he has no zero hour contracts.
Employers are concerned about the fact that the package of sweeping workers' rights – including the drop in the bar to make an action and a repression of practices such as “fire and rehiring” – will increase costs in addition to the increases in taxes and minimum wage rates that they are already confronted from April.
Next previously said he was facing 67 million pounds sterling in additional costs Following budgetary measures, including national insurance contributions for higher employers, which come into force next month.
Wolfson's comments came after the fashion channel said on Thursday that it had exceeded 1 billion pounds Sterling in annual profits for the first time, and announced that it would open 10 new stores, its first since the Pandemic COVID-19, sending shares of 10%.
“This gives you an idea of the measure of trust that we have that the worst structural change (online physical retail trade) is over,” said Wolfson about openings.
The group, which also sells other brands on its website, brought a leap of 10% of the profits before taxes from year to January and increased its prospects for the current year. It provides profits of almost 1.1 billion pounds sterling this year, 20 million pounds more than its advice in January, thanks to an increase in sales in recent weeks.
The group said that it was “positive” of its prospects, recognizing that it was “unusual for the next one to start the year on an optimistic note” and aimed at higher world sales.
But he also warned that “the risks for the wider British economy increase”. “We expect the British tax increases in April to weaken the British labor market and have a negative impact on consumer confidence over the year,” he said.
Wolfson added: “The only thing that worries me is the strength of the job market, which has really worn the British economy in the past five years.
“If I look at all our internal measures, the rate of seeker in the group increases.” He excluded layoffs.
Next prices sales increased by 5.8% last year, while total group sales increased by 8.2% to 6.3 billion pounds sterling. The retailer expects full prices for this year to increase by 5%.
Then, he reiterated his goal of increasing sales abroad after many years to focus mainly on his domestic market.
The company said new prices in the United States and changes in customs payment thresholds on deliveries to the United States and the EU would have “relatively little impact on sales or profits of the group”.
