Next has revealed that its Brand sales for the first half of its financial year (the 26 weeks to 26th July) were up 10.7%, of which 2.4% came from the opening of profitable new space. Next Retail sales were up 7.5%, and Next Directory up 16.2%.
Sales are currently ahead of the 5.5-9.5% full-year growth guidance Next forsaw in April. The retailer is therefore raising and narrowing its sales guidance range for the year to 7-10%.
Next admits that, while it might appear overly cautious to forecast a full-year sales range which is below its current rate of growth, last year’s first two quarters were hampered by a particularly cold spring and Easter which presented a soft comparison for this year – guidance for the next six months is therefore for for a growth of between 4% and 10%.
