It is safe to say that FTSE 100-listed retail fashion giant Next plc has had a year for the books, what with shares hitting all-time highs and no fewer than two profit upgrades under its belt.
The latest profit upgrade, delivered in September, predicted full-year pre-tax profit of £995 million, an 8.4% increase compared to the prior year.
Full-price sales are expected to rise by 4% for the full year, while total group sales are projected to grow by 6.6%.
Next will provide some progress on these targets when it delivers third-quarter results on Wednesday, 30 October.
Aarin Chiekrie, equity analyst, Hargreaves Lansdown, said: “Next has had a great start to the year, and that’s been reflected by around a 25% uplift in its market value year-to-date.
“Consumers appear to be holding up well too, helping retail sales beat forecasts for the third month in a row. Given its desirable clothing proposition and recent track record, it wouldn’t be a surprise to see Next capture its fair share of this spending.
“That could fuel yet another upgrade to full-year profit expectations in next week’s trading announcement.”
Online channel is expected to be Next’s main growth driver, while overseas expansion will be another point of interest for shareholders.
Next shares are currently swapping for 9,968p, down from slightly from the 10,515p all-time high reached in September.