The retailer said the Iran conflict will add £47m this year through higher fuel costs and supply-chain disruption, with rises starting in some international markets from May.
It said UK and European prices should avoid further war-related increases, as cost savings, factory-gate margin gains and currency moves offset pressures.
Next also lifted its full-year profit forecast to £1.22bn after first-quarter full-price sales rose 6.2%, including 4.4% growth in the UK.
As rivals struggle with war-driven costs, how did Next turn global chaos into a higher profit forecast?
While Next shields UK shoppers from price hikes, are international customers paying the price for the Middle East conflict?