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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Retail

Next sales grow ahead of guidance, but outlook unchanged

Sales from Next PLC (LSE:NXT) grew faster than expected in the first quarter, which won't surprise many followers of the high street retailer.

The canny clothing chain said full-price sales in the thirteen weeks to 27 April rose 5.7% on last year, slightly ahead of guidance for a 5% increase and last year's growth of 4%.

Online sales were up 8.8% and in-store sales were flat.

Sales in the second quarter are expected to be down 0.3% versus a strong period last year, with full-price sales guidance for the first half as a whole remaining at 2.5%.

This is because of the comparison with the second quarter last year when sales benefited from particularly warm weather from late May to the end of June, a repeat of which would not go unappreciated by most people in the UK.

Boss Simon Wolfson and the board are not changing full-year sales and profit guidance, which points to group pre-tax profit rising almost 5% to £960 million.

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