Retail big NEXT has revealed it paid its CEO, Lord Simon Wolfson, £4.72 million for the 12 months to January 2025 after hitting the £1 billion revenue mark for the primary time since its founding in 1864.
Lord Wolfson’s pay was made up of an annual wage of £1.16 million in addition to £3.56 million in bonuses. the retailer’s annual report said. This was up by virtually £900,000 in comparison with the 12 months prior.
He obtained a 2.8% improve to his fundamental wage, beneath the 6.8% common for employees within the firm as a complete, Subsequent stated.
Final month, NEXT revealed an annual revenue haul of greater than £1 billion for the primary time and hiked its outlook for the 12 months forward, regardless of worries over the affect of Finances measures on shopper confidence.
The excessive road retail big, which has 457 shops throughout the UK, reported pre-tax income of £1.01 billion for the 12 months to January, up 10.1% on a 12 months earlier.
It stated buying and selling had been higher than anticipated within the first eight weeks since its year-end, serving to it to boost its steerage for 2025-26, pencilling in gross sales development of 5% to £5.3 billion and income up 5.4% to £1.07 billion.
Nevertheless, on the time, Lord Wolfson warned: “We anticipate the UK tax rises in April to weaken the UK employment market and negatively affect shopper confidence because the 12 months progresses.”
