Next has reported strong first half sales with exceptional growth achieved from its retail and directory channels. Revenues increased by 10.3 per cent to £1.85 billion for the period with pre-tax profits up by 19.3 per cent to £324.2 million. Online and catalogue sales enjoyed 16.2 per cent sales growth with store revenues up by 7.5 per cent.
CEO Lord Wolfson commented, “We believe an improving economy, low-interest rates, increasing availability of credit, less general discounting on the high street, and much better weather this summer have all contributed to an improvement in our sales performance.”
The business is poised to launch a higher priced fashion collection for men and women this Autumn under its Signature label. The men’s range will include suits retailing at £300 and for women, it will offer dresses priced up to £150.
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