Next plans to open up to ten 30,000-40,000 sq ft mini department stores over the next three to four years.
The fashion retailer has identified a 19-strong “wish list” of sites, most of which are in the south of England. The majority will be out of town or on the edge of town and require some form of planning permission. Lord Wolfson, chief executive, said he expected to open three-quarters of the 19 over the next four years. He said Next would not close city centre stores to accommodate the new format. The company said it remained committed to its retail estate despite a fall in high-street sales and a growth in non-store sales. It plans to continue to invest in its standalone Home stores of which it has 43. The size of the total estate in the last financial year grew from 525 shops in January 2011 to 536 at the beginning of this year.
23/03/12 Financial Times 23
Daily Telegraph B8
Guardian 30
