LONDON: Shares in UK clothing retailer Next soared to the top of the London market Thursday after it said colder weather boosted purchases despite a cost-of-living crisis caused by sky-high inflation.

Next’s share price jumped seven percent to £65.26 ($78.53) on the benchmark FTSE 100 index, which was up modestly overall. Sales of full-price items rose around five percent in the nine weeks to December 30 from a year earlier, the company said in a statement.

That beat its own guidance for a modest decline and sparked an upgrade to its final 2022 earnings due in March.