Boost: Next expects profits to hit £960m this year
The Next boss saw his salary rise to £4.5m last year as the broadcaster defied pessimism on the High Street.
Lord Wolfson, who has been praised for his leadership at one of Britain’s most successful retailers, received a base salary of £908,000, a bonus of £1.4m, share awards of £2m and £172,000 in pensions and benefits.
His overall package increased by 80 per cent from £2.5m the previous year.
The figures, in the company’s annual report, came just weeks after Wolfson, 56, declared that “we seem to be entering a new era” with inflation receding and the economy recovering.
Next, which it has run since August 2001, expects profits to reach £960m this year.
Tesco, Marks & Spencer and B&Q owner Kingfisher are the only UK public retailers to make £1bn in profits in a single year.
Next shares rose 0.7 percent.