Next plans better warehouse capacity, expects full-year profit
Profit before tax could be as much as £330mln or as little as £15mln based on three scenarios
Company
Next PLC
LON:NXT
Next plc is a United Kingdom-based retailer offering products in clothing, footwear, accessories and home products
571 stories · page 13 of 29
Next shares knocked as Goldman Sachs downgrades rating to ‘sell’ from ‘neutral’
“Post COVD-19 disruption, we expect the Next UK brand return to a yoy decline, driving Next brand UK EBIT down to <£200mn in FY25E (from FY20E £412 mn),” Goldman's analysts said
Shop owners see long queues on reopening but wonder if rush can be sustained
Shopping will be a very different experience from three months ago
The big challenge ahead for shops and pubs as coronavirus restrictions ease
If non-essential businesses are allowed to open over the next months, they will have to adopt measures to make customers feel safe
Next sales could slump by 40% due to coronavirus pandemic
The fashion retailer has been ramping up its operations and implementing cost-saving plans, including the sale of its headquarters
Fashion retailers to see "very painful" summer clearance as stock must go
Demand is at a historical low but summer ranges are still piled up in warehouses
Next restarts online sales ‘in a very limited way’ due to coronavirus safety measures
“The idea is to begin selling in low volumes, so that we only need a small number of colleagues in each warehouse at any one time, helping to ensure rigorous social distancing is complied with”
Sir Philip Green’s Arcadia Group requests taxpayer help to pay staff amid coronavirus pandemic
With its 550 stores closed due to the UK's lockdown, the Topshop owner has been forced to furlough 14,500 of its workers
Next forced to sell HQ and warehouses to survive coronavirus pandemic
Wolfson said Next “could sustain” the loss of 25% of annual sales, if the coronavirus lockdown was sustained for several weeks
Next closes online operations to let all workers isolate
The retailer said workers in the warehousing and distribution operations “increasingly feel they should be at home in the current climate”
Next “could sustain the loss” of 25% annual sales, delays dividend
Management have identified a series of measures assuming the pandemic lasts from two to 24 weeks
Archive
FTSE 100 closes higher as traders buoyed by BoE stimulus measures
Britain's blue-chip benchmark closed up around 71 points at 5,151, while FTSE 250 fell over 178 points at 12,829
Fed meeting and retailers in focus but coronavirus will overshadow week ahead
Company updates on the calendar for the coming week include Antofagasta, Ferguson, Gym Group, JD Wetherspoon, Next, Morrisons and Ocado
Next gets lift as Citi upgrades to ‘neutral', believes retailer relatively well placed to cope with coronavirus impact
Citi’s analysts said: “The shares have sold off c.40% since the coronavirus newsflow started and we believe this is excessive”
Next downgraded by HSBC after revising up profit forecast
The bank downgraded the stock to ‘hold’ from ‘buy’ and slashed the target price to 7,050p from 7,300p after reducing future estimates
Next analysts disagree over value of shares
Berenberg raised its price target, UBS kept the 'buy' recommendation, SocGen downgraded the stock to ‘sell’
Next’s Christmas performance lauded by analysts, but outlook for retail sector still uncertain
Multiple analysts said the retailer had delivered a robust set of figures despite tough conditions, however, they were unsure whether its peers would fare as well
Next hikes full year profit guidance as Christmas trading beats forecasts
The clothing retailer said full price sales in the festive period had risen 5.2%, with double-digit growth in its online division offsetting declines in its stores
Archive
FTSE 100 index rises but other markets fall as oil surges amid US/ Iran tensions
FTSE added over 18 points on the day to close at 7,622, while the FTSE 250 plunged over 120 points to 21,988.
Friday to see start of post-Christmas trading updates as Next reports
The first Friday of 2020 will see the clothing chain kick off the traditional round of trading updates from the UK's retailers following the crucial festive trading season