Next news and archive

Next lowers full year profit outlook

Full price sales at Next Plc for the Christmas trading period, between October 28 and December 29, the company said in a statement, were in line with the guidance revealed in September and were up 1.5 percent on last year. For the full year, Next expects full price sales growth of 3.2 percent, while central guidance for full year profit has been...

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Analysts expect Next’s sales to be 13 percent down year-on-year

New York - The first week of January is crucial as main apparel retailers in the UK share their Christmas trading updates. After John Lewis enjoyed the benefits of last-minute shopping, the City expects Next to report disappointing figures, forecasting in-store sales could be down as much as 13 percent. Analysts at Jefferies said last week that...

Management |ANALYSIS Featured

Burberry leads FTSE 100 retreat after poor consumer sentiment update

New York - November, 9 was a grey day for stocks traded on the main British benchmark index. In London, the FTSE 100 was down 46 at 7,094, with Burberry Group PLC (LON:BRBY) leading the retreat, after UBS cut its price target for the luxury goods firm to 2,000 pence from 2,150 pence. As reported by ‘Proactive Investors’, fashion industry peer...

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Next Q3 sales up 2 percent, maintains full year outlook

In its trading update for the third quarter, Next Group Plc said that sales rose 2 percent on last year, in line with expectations of which sales from new space were up 0.6 percent. Full price retail sales were down 8 percent, while online sales improved 12.7 percent in the third quarter with full price sales growth of 1.3 percent. Next’s...

ManagementFeatured

Next raises outlook, expects full year EPS to grow by 5 percent

First half full price sales at Next, the company said, were up 4.5 percent on last year, while sales including markdown were up 3.9 percent to 1,939.4 million pounds (2,543.6 million dollars). 4.5 percent rise in sales, the company said was ahead of the 1 percent guidance given in January and the 2.2 percent given in May. Since the company did...

Management |ANALYSIS Featured

Heat wave lifts Next’s hopes: brand’s Q2 sales come ahead of forecast

Next Plc said the heatwave encouraged British consumers to buy more summery clothes, lifting the retailer’s second-quarter own-brand sales rose 2.8 percent in the 12 weeks to July 28, an increase the company called “modest”. The fashion chain explained that full-price sales were up 4.5 percent year-on-year during the first half of the year,...

Fashion

UK retailers are backing universal sizing system

A universal sizing system could soon take over the high street as retailers including Asos, New Look, River Island and Next have partnered with Shape GB, a revolutionary body volume system for measurement. According to the Daily Mail, the Shape GB campaign will consist of a survey to take measurements of 30,000 adults to determine how body...

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UK’s retail Armageddon, take two: M&S and Next expected to shutter dozens of stores

Marks & Spencer is reported to be shutting 100 of its large clothing and food shops in an attempt to revert poor sales and shrinking profits. It has already closed 20 as part of a plan announced 18 months ago to significantly reduced the space dedicated to worse-performing stores. On a related note, property consultancy firm Colliers...

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Next posts 6 percent sales growth in Q1, increases sales and profit outlook

Full price sales for the fourteen weeks to May 7, 2018 at Next Plc were up 6 percent on last year. Sales in the company’s online business were up 18.1 percent, driven by the growth of Next branded stock and third party brands on its UK platform along with continued growth from the overseas business. Announcing a new central guidance for fiscal...

Management

Next posts 8.1 percent decline in full year profit

Total Next retail sales reduced by 7.9 percent and full price sales were down -7 percent for the full year ending January 2018. The company said that in line with the guidance in Christmas trading statement, group profit before tax was down 8.1 percent and EPS were down 5.6 percent. At the central guidance, for FY18, Next expects full price...

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Next faces 30 million pound equal pay claim

London - Next is the first fashion retailer to face an equal pay claim, as thousands of mostly female store staff are demanding up to 30 million pounds in back pay from the high street retailer. Over 300 store workers registered to participate in the claim which was filed at the conciliation service Acas on Wednesday, which stated they are paid...

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Next’s group operations director Michael Law to retire in July

Next Plc has announced that after 23 years with the company and five years on the board, Michael Law, group operations director, will retire in July 2018 and step down from the board at the AGM on May 17, 2018. The company added that Richard Papp will join the Next board on May 14, 2018, as an executive director and new group merchandise and...