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Next maintains profit guidance as full price sales rise by 2%

Next has reported that its full price sales including interest income rose by 2% in its third quarter. In the three months to 26 October, online… View Article

GENERAL MERCHANDISE

Next maintains profit guidance as full price sales rise by 2%

Next has reported that its full price sales including interest income rose by 2% in its third quarter.

In the three months to 26 October, online sales climbed by 9.7% but in-store sales were down 6.3%.

The fashion and homewares retailer said sales in September were impacted by the month’s unusually warm weather but that trading improved in October when temperatures fell.

The results mean that online full price sales are up 11.1% in the financial year to date while sales at Next stores are down 4.8%.

Looking ahead, Next said it does not expect sales growth for the rest of the year to be as strong as October.

Next is maintaining the profit guidance it gave in September which stated that group pre-tax profit is expected to come in at 0.3% above the previous year at £725 million.

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