23 May 2024, 08:03
By Furniture News Jun 19, 2023

Next enjoys unexpected sales fillip

In an unscheduled trading update, Next reports that trading in the last seven weeks has been materially better than the guidance the retailer issued in May.

Full-price sales in the first seven weeks of Q2 were up +9.3% YoY (compared to guidance of -5%), beating Next's full-price sales estimates by £93m.

Accordingly, the retailer is upgrading its full-price sales guidance for the full year by £137m, and its full-year profit guidance by £40m to £835m.

The retailer puts this success down to the onset of warmer weather after such a wet and cold April, and the fillip in household income provided by annual salary increases.

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