Fashion retailer Next reported a 0.5% increase in sales at its shops in the 58 days from October 28 to December 24. Sales at Next Directory rose 7.5% and total Next brand sales added 2.9%.
Next said it expects full-year profit to be within
£10 million of either side of £775 million, which would leave it just above the midpoint of the guidance it set out in October. It noted that while it had entered the Boxing Day sales with significantly more stock than a year earlier, clearance rates had been in line with expectations.
The company’s chief executive officer, Lord Wolfson, said consumers were in a slightly better position than a year ago. He also said that while Next didn’t have any Black Friday promotions, the day had nevertheless been a good one for the company.
The company plans to pay shareholders a special dividend of 50p a share.
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The Daily Telegraph, p. 25
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The Independent, p. 45
