Sky News reports that Next is working with advisory firm Retail Realisation on pursuing the shoe and bag retailer
Next is reported to be interested in taking over the family-owned shoe retailer Russell & Bromley.
Sky News reports that Next is working with advisory firm Retail Realisation on pursuing the 145-year-old shoe and bag retailer, which has 37 stores across the UK.
Russell & Bromley had previously hired Interpath Advisory to secure new external financing as part of a five-year turnaround plan.
Next is said to not be the only fashion brand to express interest in Russell & Bromley, according to Sky News sources. Russell & Bromley was founded in 1880 by George Bromley and Elizabeth Russell in Eastbourne.
It currently employs more than 450 people and is now run by Andrew Bromley. Next has bought brands such as Cath Kidston, Joules and Seraphine and Made.com in recent years.
It was recently reported that Next is also interested in a potential deal for LK Bennett, which is on the brink of administration for the second time in six years.
It comes after Next increased its full-year profit outlook once again after a better-than-expected festive performance. The fashion and homewares chain reported a 5.9% rise in UK full-price sales for the nine weeks to December 27, while overseas sales surged by 38.3%.
It now expects pre-tax profits to rise by 13.7% to £1.15 billion for the year to the end of January on full-price sales up 10.7%. The group had previously guided for profits to increase by 12.2% to £1.14 billion and sales to rise 9.7%.
But Next forecast a slowdown in growth for the following 2026-27 financial year as it said jobs market woes would weigh on consumer spending, while it is also set to come up against tough trading comparatives and more moderate overseas sales.
In more retail news, River Island will close at least 27 stores this month. The struggling fashion retailer previously announced it would close 33 stores as part of a major restructure.
Its branches in Brighton, Edinburgh Princes Street, Great Yarmouth, and Stockton-on-Tees were part of this list, and these closed in the last few months of 2025.
Norwich, Norfolk and Workington, Cumbria are also part of the list of 33 stores, but dates for these branches have yet to be confirmed.
River Island is also reducing rents at another 71 shops as part of its restructure. The clothing chain had 223 stores across the UK and Ireland at the time of its rescue plan being heard in court in August this year.
