British clothing retailer Next plans to mitigate the cost increases caused by the Iran war with “moderate” price rises in some international markets and cost savings elsewhere, it said, AFP reports.

European apparel retailers, including H&M, have warned that a prolonged Middle East conflict, will push up prices and dent consumer demand.

Next also reported a better-than-expected 6.2 per cent rise in full price sales for its first quarter to May 2 and edged up its full-year profit guidance.