UK retailer Next says it can weather coronavirus storm

LONDON (Reuters) - British clothing retailer Next said on Thursday the industry faced an unprecedented crisis due to coronavirus outbreak but said its balance sheet and margins would help it weather the storm.The group, which has about 700 stores, with about 500 of those in Britain and Ireland, and also operates its online Directory and catalogue business, said it was preparing for a significant downturn in sales during the coronavirus crisis.It said total brand sales fell 8.8% in the week..