Proactiveinvestors recommends
Additional Information
Market: LSE
Sector: General Retailers
EPIC: NXT
Latest Price: 2,723.50p  (-1.31% Descending)
52-week High: 2,810.00p
52-week Low: 1,868.00p
Market Cap: 4,588.82M
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Next Plc
www.next.co.uk

Next plc is a United Kingdom-based retailer offering products in clothing, footwear, accessories and home products

Full Next Plc profile here
Pdf

Next reports better than expected sales for first quarter, but remains cautious

6th May 2009, 9:35 am Next reports better than expected sales for first quarter, but remains cautious

Clothing retailer, Next plc (LSE: NXT) slipped 2% in early deals after the company released a trading update for the 14 weeks to 2 May 2009.   Results were far better than expected, with like for like sales at Next Retail slipping only 2.3% against an expectation of a 6-9% fall.  The FTSE 100 retailer was quick to play down the figures, citing a late Easter, warm weather and the weakness of sterling keeping people in the UK as reasons for the better than forecast figures.


Taking into account the better than expected first quarter, Next said it was now forecasting that like for like sales at Next Retail will fall between 4 and 7%.


“We expect the second quarter will be weaker than the first as comparative figures are more challenging. Last year the second quarter was much better than the first. We are now forecasting that Next Retail like for like sales in the first half will be within the range of -4% to -7% and that Next Directory sales will be broadly flat,” the company stated.


“As a result of the better than expected sales to date we have added £15m to our internal profit forecasts. However, these improvements could yet be offset by the effects of pandemic flu, although at this stage it is hard to predict the impact on consumer behaviour. “

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.