Next sales hit by unseasonably warm weather
Next has said that the unseasonably warm weather in September has impacted its third quarter sales.
The fashion and homewares retailer said the cooler weather in August had resulted in several “very strong” weeks.
However, warmer weather in September has had the reverse effect leading to sales to rise by 6%, which is lower than Next’s previous forecast of 10% growth.
The retailer said: “Our profit forecast for the full year remains within our previous guidance given on 29 July and reiterated on 11 September, and our experience suggests that some lost sales are regained when the weather turns.
“However, if this unusually warm weather continues for the full duration of October then we are likely to lower our full year profit guidance range of £775 million to £815 million.”
Earlier this month, Next reported a 19.3% increase in first half profit with retail stores and online sales both delivering significant growth.
