Next boosts full-year sales guidance.


Next boosted its full-year guidance on Wednesday, after third-quarter trading beat internal expectations.

Next

Source: Sharecast

The fashion retailer said full-price sales in the three months to 28 October rose 4% year-on-year, £23m ahead of earlier guidance for 2% growth.

Within that, online sales jumped 6.5% but retail eased 0.6%. Next attributed the variable sales performance to changing weather conditions, "rather than any underlying changes in the consumer economy".

As a result, the high street giant increased its full-year guidance for pre-tax profits by £10m, to £885m. It also upped its forecast for full-year sales, which are now expected to be 3.1% stronger at £4.74bn on the assumption full-price sales remain 2% higher for the rest of the year. Next previously forecast full-year sales growth of 2.6%.

A number of fashion retailers saw sales come under pressure in September, after the unseasonably warm weather meant autumn shopping was put on hold.

Full-price sales exclude items that are on sale or included in clearance promotions.


ISIN: GB0032089863
Exchange: London Stock Exchange
Sell:
13,610.00 p
Buy:
13,620.00 p
Change: -40.00 ( -0.29 %)
Date:
Prices delayed by at least 15 minutes

Compare our accounts

If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.

Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.