Next has enjoyed a better than forecast performance in its second quarter with a 12 per cent increase in its online sales for the period to July 27th. This has led to it raising its full-year profit guidance by £10 million despite store sales having fallen by 4.2 per cent. Its focus on achieving full-price sales saw these rise by four per cent year on year.
In a statement, the business said: “Following the better than anticipated sales performance in the second quarter, we are increasing our full price sales guidance for the second half from 1.7 per cent to 3 per cent, in line with our full-price sales growth in May and June.”
The news comes as other retailers continue to struggle even having slashed prices to unprecedented low levels over the past months.
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