Currency movements are pushing up costs for British retailers...
British fashion retailer Next has warned that the results of the Brexit vote will make its clothes more expensive.
The retailer's pretax profits fell by 1.5% to £342m during the first half of 2016.
A statement from the company said that currency swings provoked by the referendum result will mean that its clothes will increase in price by less than 5%.
"In the scheme of things, we think that this drag on sales is manageable and less damaging than taking a significant hit to margin," Next said in its report.
Fast fashion retailer Primark also raised the issue of currency movements affecting their costs - but the company pledged that it will not increase prices as a result.
Banking on Christmas
The owner of John Lewis and Waitrose has reported a 75% fall in half-year profits in the UK, down to £56.9m.
John Lewis faces tough competition in the clothing market and is also dealing with a major shift to online sales.
Like-for-like sales at John Lewis increased by 3.1% during the half year. It will hope for a sales bump in the remainder of the calendar year as it gears up for a fresh (blockbuster TV-spot fueled) assault on the Christmas market.
The second half of the year traditionally accounts for close to two-thirds of its turnover.
Additional reporting by IRN