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Next full price sales down 3.5% in third quarter

Next has reported that its total full price sales fell by 3.5% in its third quarter despite a significant improvement in sales in October.

GENERAL MERCHANDISE

Next full price sales down 3.5% in third quarter

Next has reported that its total full price sales fell by 3.5% in its third quarter despite a significant improvement in sales in October.

Sales at the fashion and homeware retailer's high street stores declined by 5.9% in the period while Next directory sales, which includes online, were flat.

In a statement, Next said: “In September we gave guidance that trading in the third quarter would be difficult. In August full price sales were subdued following the much larger end-of-season Sale in July, and in September we traded against our best month last year. October sales improved significantly, as comparative weeks last year became less challenging.”

The third quarter figures mean that Next’s total full price sales in the year to date fell by 1.5%. However, total sales including markdown sales edged up 0.4% year-on-year. Next said its markdown sales grew faster than full price sales due to a much larger end-of-season sale in July.

The retailer now expects full-year sales to be between 1.75% lower and 1.25% higher than the previous year. This is marginally lower than the previous guidance given in May.

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