£1m bonus for Next boss

Lord Wolfson, the chief executive of Enderby based retail chain Next,  received a £1.03 million bonus for the second year in succession after the company posted another record profit.

Lord Wolfson received a similar amount last year after the company posted a record profit for 2009.

The business saw earnings rise by almost a tenth to £551 million last year, while at the same time other clothing firms were finding trading conditions tough.

The company has said that most of its 4,000 Leicestershire staff will also get a bumper bonus.

Sales at the 29-year-old company reached an all-time high in the 12 months to January 31 for the second year in succession after rising by 1 per cent to £3.45 billion. The company is optimistic about another record year in 2011, despite higher prices causing a downturn on  high street trading.

 

 

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