Next has reduced its profit expectations for the year after the unseasonably warm start to autumn hit sales growth in its third quarter.

Sales rose 5.4%, behind its expectations of 10%, in the quarter to October 25.

The slower sales have led Next to cut its central profit guidance for the year by 3% to £770m. It expects profits to come between £750m to £790m, up 8% to 14% on last year.

Prior to the third quarter, its central profit guidance was £795m.

In the third quarter, Next’s retail sales edged up 2.4% over the quarter while its directory sales advanced 9.7%. Sales from new space rose 1.9%.

The retailer said that the cool August meant the season started well but sales weakened due to the warm September and October.

Next has moderated its fourth-quarter expectations due to the “volatility” of current trading along with strong comparatives last year. It is now forecasting that full-price sales will be within -2% to +4% over the quarter. This compares to its initial fourth quarter expectations of +4%

Full-year sales should now come within a growth range of 6% to 8% growth, compared to 7% to 10% prior to its third quarter.

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Next cuts full-year profit expectations as warm autumn hits sales