THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Next upbeat on outlook despite fall in profit

Next has reported that pre-tax profit fell by 9.5% to £309.4 million in its first half.

FASHION

Next upbeat on outlook despite fall in profit

Next has reported that pre-tax profit fell by 9.5% to £309.4 million in its first half.

In the six months to July, total sales reduced by 2.2% to £1.9 billion as store sales fell by 8.3%. In contrast, Next Directory online sales climbed by 5.7%

The retailer said the combination of falling sales, a large fixed cost base, some one-off increases in costs and higher markdown costs ahd all served to reduce profit.

Despite a difficult first half, Next said its performance in the last three months had been encouraging and whilst the retail environment remains tough, its prospects going forward look less challenging than they did six months ago.

As a result, Next has upgraded its sales and profit guidance for the full year. It now expects pre-tax profit to be in the range of £687 to £747 million compared to its previous estimate of £680 to £740 million.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019