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Next reports better-than-expected sales

Next is maintaining its annual profit guidance after full price sales in its third quarter came in slightly ahead of expectations. The fashion and homewares retailer… View Article

FASHION

Next reports better-than-expected sales

Next is maintaining its annual profit guidance after full price sales in its third quarter came in slightly ahead of expectations.

The fashion and homewares retailer said in a statement that full price sales were up 0.4% year-on-year in the 13 weeks to 29 October.

Furthermore, sales in the last five weeks have increased by 1.4% after trade was boosted by one particularly strong week at the end of September, when cooler temperatures meant shoppers bought more cold weather clothing.

While online sales were down 1.9% in the 13 weeks, sales in Next’s high street stores climbed by 3.1%.

As a result of the performance, Next has maintained its guidance for full year pre-tax profit at £840 million, which is a 2.1% increase on the previous year.

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