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.

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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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