Next has identified 22 stores for closure as shop sales are expected to account for less than half of its turnover by the end of the year.
The retailer’s quarterly results showed a marked contrast between web-based and bricks-and-mortar sales, highlighting the growing importance of online shopping to the high street stalwart.
Next revealed that sales at its physical shops had continued to fall in the third quarter, dropping by 8%. Over the year, in-store sales are down by 6.3%. Sales at its online directory business were up by 12.7% in the third quarter and 14.8% ahead for the year so far.
