Next PLC (LSE:NXT) maintained its profits guidance for the year that it lowered with its interim results in September.
In a brief third-quarter statement today, the high street retailer forecast full-year pre-tax profits of £840mln, up 2.1% versus last year, with earnings per share of 554.5p, which would be a 4.5% increase on last year.
The FTSE 100-listed company reported that in the 13 weeks to 29 October 2022 full-price sales were up 0.4% compared to last year, slightly ahead of its expectations.
Full-price sales in the last five weeks, since the group's last trading update, have risen 1.4%, boosted by one particularly strong week at the end of September, when temperatures dropped and sales of heavier weight products improved.
Next maintained its previous guidance for full-price sales for the rest of the year to be down 2% versus last year.
In its interim results issued at the end of September, the retailer rowed back on its guidance for full-year profit before tax, trimming it by £20mln to £840mln.
Next said it would update the market on Christmas sales on 5 January 2023.