Next slashes profit guidance as cost-of-living crisis bites
“We think it is sensible to moderate our expectations for sales and profit in the second half,” the fashion retailer said in its interim results
Company
Next PLC
LON:NXT
Next plc is a United Kingdom-based retailer offering products in clothing, footwear, accessories and home products
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FTSE 100 finishes well in the red as global recession fears ramp up
After a tumultuous day, the UK's premier index finished 1.8% lower
Next upgrade not likely but may be lessons for sector, says Shore Capital
Three key trends will shape the remainder of the year for the FTSE 100 clothing retailer, Shore Capital said
Next PLC's outlook and recent trading will be key in interims
Analysts at Barclays said investors should keep any on the post-period trading
H&M and Zara owner have little read across to British fashion retailers but prove sector is currently a mixed bag
Closer to home, some of the biggest players in the sector also reported results at opposite ends of the spectrum
UK retail sales rise but consumer confidence sinks to record low
"The three-month decline of 1.2% paints a much more accurate picture of the UK high street"
Struggling retailer Joules Group’s shares bounce Next’s acquisition proposal
The partial acquisition would be latest addition to Next’s Total Platform
The secret to Next's success? There isn't one
Next is renowned for under-promising and over-delivering
Next ups profit guidance as second quarter sales beat expectations
Next highlighted that the year so far experienced a 'sharp reversal' in last year’s lockdown trends
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FTSE 100 closes almost flat after BoE rate hike; US stocks weak ahead of July jobs report
At the close, the UK blue-chip index was up 2.38 points, or 0.1% at 7,448.06, well below the session peak of 7,491.74 but above the day’s low of 7,417.49
WIll Next over-deliver once again?
Analysts at the bank believe retailers are currently too optimistic about the impact of the cost of living crisis
Next the 'sleep easy' stock of UK retail as liquidity tightens
Shore Capital has carried out a liquidity analysis of the listed retailers
Next downgraded as Deutsche Bank highlights September as 'pain point' for retail
"September is when pent-up demand for holidays, travel, weddings and festivals starts to wane, cost of living pressures stack up and Christmas spend is coming into view.”
Can the high street ever thrive again?
Sports Direct’s new store may be a glimpse into the future for the high street
Next maintains profit guidance, promises £220mln shareholder return
Online sales were up 47% on pre-pandemic times but down 11% on last year
China's Shein given same price tag as SpaceX
Shein overtook Amazon in downloads of shopping apps on US stores last year
Next has passed a turning point, says Deutsche Bank, but slashes target price
The retailer’s increasingly medium-term stance is something that should pique the interests of investors, analysts said
Next lowers guidance but should be able to navigate tricky year, say analysts
Predicting performance for the next nine months is extremely difficult
Next lowers profit and sales guidance as war in Ukraine weighs
War in Ukraine has added further uncertainty for the fashion retailer
FTSE 100 ends higher as oil stocks power gains
London retains crown of Europe's top financial hub