Member Article

Next retail sales on the up

Big retailer Next has announced a hugely successful first half of the year, having exceeded their original highest end estimations.

A growth of 4.5% in Next brand sales was reported, putting the store at the top end of their predictions formed on sales between March and May of this year.

Their statistics show an increase in sales compared with the same period last year, with steady growth being forecast for the latter part of 2012.

In-store sales have remained relatively the same, with a small increase of 0.2%. Sales from Next Directory also shot up by 13.3% up to July as online sales are boosted.

These positive results mean that the store is predicting even more optimistic sales for the next 6 months.

Their pre-tax profits expectations have been increased to £575m to £620m, whereas they previously expected a return of £560m to £610m.

They stated: “We are modestly increasing and narrowing our sales and profit guidance ranges for the full year.

“It remains our intention to buy back approximately £200m of shares this year, of which to date we have spent £112m buying 3.9m shares.”

Image by Paul Shaw

This was posted in Bdaily's Members' News section by Miranda Dobson .