In a newly issued trading statement, Next has reported full-price sales growth of +7.6% YoY for Q3 (August to October), +2.6% ahead of the retailer's expectations. Online sales were up +7.9% in Q3, and store (retail) sales up +2.9% YoY.
"We believe the strong performance was driven by the early arrival of colder weather this year, versus an unusually warm September and early October last year," states Next, which is increasing its guidance for Q4 full-price sales growth by +1.0%, to +3.5%.
The improved sales in Q3 along with the revised forecast for Q4 would add £43m to full-price sales and £10m to profit, so the retailer is upgrading its profit guidance for the full year from £995m to £1005m.
Total group sales for the full year are expected to be up +7.4% YoY, +2.5% higher than expected, as a result of acquisitions completed during the last year.
