Next, Bridgepoint and CVS on Thursday's agenda as results tide slows
After the deluge in recent weeks the results flow starts to ease a little on Thursday
Company
LON:NXT
Next plc is a United Kingdom-based retailer offering products in clothing, footwear, accessories and home products
571 stories · page 11 of 29
After the deluge in recent weeks the results flow starts to ease a little on Thursday
The clothing retailer raised wages by an average of 5.4% last year and responded with price hikes in its shops of 3.7% last spring/summer and 6% for the autumn/winter collection
The move comes amid soaring levels of worker absences due to the rapid spread of the Omicron variant of coronavirus
Next does two things exceptionally well. It sells things and it manages the market's expectations.
The company announced another special dividend, this time of 160p per share, compared to September's 110p payout
US economic data will bring thoughts back to interest rate hikes and how many we will see in 2022
“Although consumer finances are in good shape, price increases in essential goods (such as fuel) may moderate demand for more discretionary purchases,” the clothing retailer cautioned
Archive
Coca Cola HBC and Smurfit Kappa are also due to release updates
Chief executive Simon Wolfson, a Conservative peer and ardent Brexit supporter, is asking for government action
The retailer expects growth to slow down over the coming months
Archive
In terms of macro releases, Wednesday comes with UK and US housing figures in terms of mortgage lending and approvals
Gap announced earlier this year that it will close its 81 stores in the two countries
More than 400 Next shop workers, the vast majority of them women, are seeking equal pay rates to workers in the retailer's distribution centres
UBS said investors had expected a special dividend but the magnitude was a pleasant surprise
Shareholders will also get £240mln in special dividends
Cash returns have historically been a key component of shareholders in the retail sector and they are about to be back
Europe’s e-commerce landscape is undergoing significant structural change, according to researchers at Alvarez & Marsal Inc. and Retail Economics
The retailer has enjoyed pent-up demand over the past few weeks
Archive
The UK blue chip index closed higher after positive economic news