Next tops trading in London and lifts FTSE 100

Next reverted the fate for the British high street on Wednesday

and cheered investors with better than expected trading. The fashion retailer got around the unsettled weather and posted sales for the quarter ended in October 26 up 4.3 percent. The stock gained 5 percent, driving the gains for fashion peers.

Next reported retail sales growth of 0.4 percent in the third quarter of its financial year. Best news came from its Next Directory businesss, which saw sales grew by 10.7 percent, helping total sales in the quarter to October 26 to grow by 4.3 percent, as the company explained during the presentation of its third quarter interim management statement.

The results did not but confirm the trend for the retailer in the year to date, as retail sales have fallen by 0.5 percent while directory sales climbed 9.2 percent, helping total Next brand sales to grow by 3 percent.

Based on the positive figures, the fashion chain has lifted its profit forecast for the year to January 2014. Pre-tax profits are expected to raise during the period in the range of 4.6- 9.4 percent to come in between 650 and 680 million pounds. Sales are expected to grow by between 2 percent and 3.75 percent.

Next led the winners’ board in London after it lifted profits guidance from a bracket of 635 million to 675 million pounds to a range of 650 to 680 million pounds. Lifted by Next’s positive outlook, Marks & Spencer shares rose 7.6 pence to close at 493.2 pence. The beloved chain will report its interim results in a week time. Both Next and M&S topped the trading at the London Stock Exchange Wednesday. Parent group to Primark, Associated British Foods, upped as well, adding 26 pence to 2,222 pence.

Elsewhere, Esprit Holdings Ltd appointed former Inditex executive Rafael Pastor Espuch as their new chief product officer. The movement is thought to reverse sinking European sales and to change the course of the ailing retailer. The stock closed at rise, adding 0.34 percent.

Meanwhile, Pacific Brands remained within the losers of the session after dropping 3.5 percent. The apparel group said earlier this month that its full-year profit is likely to be down due to weaker sales and challenging market conditions that presents "no near term signs of improvement." "FY14 will be a year of hard work as we continue to navigate through a difficult and, in many ways, unpredictable consumer and economic market," added chief executive John Pollaers a week ago.

Among other outstanding stocks Wednesday was Australian Deckers Outdoor Corp., which reported sales increases in all categories except in its domestic market. The company has seen its online sales up by 12 percent for the third quarter ended in September. Shares at Deckers were among the five best performing stocks of the FashionUnited Top 100 Index on Wednesday, closing with a gain of 2.41 percent. The international apparel industry benchmark index closed in green, reaching a 1499.53 height.