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Posted on October 30, 2019 by staff

Online boost offsets fall in Next retail sales

Online boost offsets fall in Next retail sales

Next said sales in September fell short of its expectations as a result of the unusually warm weather
Next said sales in September fell short of its expectations as a result of the unusually warm weather

High street fashion firm Next has reported an overall increase in sales thanks to its online offering.

The listed company saw in-store retail sales drop 6.3 per cent in the third quarter but overall revenue was up two per cent thanks to a rise of 9.7 per cent online. It did not release the sales figures.

Next said sales in September fell short of its expectations as a result of the unusually warm weather but there was an uplift in October when temperatures fell.

“We believe the improved sales growth in October recouped some of the lost sales in September and we do not expect sales growth for the rest of the year to be as strong as October,” it stated.

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It maintained its full-year guidance of group profit before tax of £725 million, which would be a rise of 0.3 per cent on the previous year.

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