Next raises sales and profit forecasts
Next has raised its sales and profit forecasts as it reported that full price sales were up 4.3% in the first half of its financial year.
In the 26 weeks to 27 July, total sales, including markdown sales, rose by 3.8%.
The uplift follows better than expected full price sales in the fashion and homeware retailer’s second quarter when they increased by 4%. Next said it experienced particularly strong sales in July with a year-on-year uplift of 6.8%. However, some of July’s over-performance sales was the result of lower markdown sales in the retailer’s clearance sale.
Following the second half performance, Next is now increasing its full price sales guidance for the second half of the year from a rise of 1.7% to 3% growth.
It is also increasing its guidance for full year group profit by £10 million to £725 million, which is marginally up on last year.
