Next edges up sales forecasts
Next, Britain’s second-largest clothing retailer, edged-up its annual sales and profit forecasts after beating its own guidance for first half sales growth.
The firm, which trades from over 500 stores in Britain and Ireland and about 200, mainly franchised, overseas, as well as the Directory catalogue and internet business, said total full price sales rose 3.5 per cent in the 26 weeks to July 25. That compared to first quarter growth of 3.2 per cent and guidance for the first half of flat to up 3 per cent.
The mid-point of Next’s full year profit guidance was increased by 1.9 per cent from £810m to £825m, while its full year sales guidance range was increased to up 3.5-6 percent.