Next PLC (LON:NXT) has blamed “unusually warm weather” for a slump in September sales, although strong performances in July and October helped offset the losses and ultimately made for a solid third quarter.
In an update for the three months ended 30 October, the FTSE 100 clothing retailer reported that total full-price sales had risen 1.6% in the period as 9.7% growth in its online division offset a 6.3% slump for its high street stores.
READ: Next shares strut lower as it maintains full-year guidance
The company said October had seen a “significant improvement” over the previous month as temperatures began to fall, however, it said sales growth over the rest of the year was unlikely to be as strong.
Next also maintained its full-year guidance of a £725mln pre-tax profit, a 0.3% increase on the prior year, and a sales rise of 3.6%.
Despite the positive performance, the group appeared to be suffering from profit-taking in early deals on Wednesday as the stock slipped 2.9% to 6,652p.