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Next maintains full year forecasts

Fashion and homewares retailer Next has reported a 2% increase in third quarter full price sales and maintained its sales and profit forecasts for its full year.

GENERAL MERCHANDISE

Next maintains full year forecasts

Fashion and homewares retailer Next has reported a 2% increase in third quarter full price sales and maintained its sales and profit forecasts for its full year.

In the three months to 27 October, sales at its high street stores were down 8% but online sales increased by 12.7%.

Product full price sales were up 1.3% in the period while finance interest income grew by 11.9%.

Next also said that it is maintaining the full year sales and profit guidance that it set out five weeks ago in its first half results. The retailer expects full price sales growth of 3% for the year to January 2019 with a group pre-tax profit increase of 0.1% to £727 million.

Next raised its forecast for full year pre-tax profit last month following better than expected sales over the summer due to the warm weather. However, the company said it was remaining cautious for the outlook for the rest of the year.

 

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