Next has posted sales of £4.86 billion for the year to January 2022 which was up from £4.36 billion in 2020. Its pre-tax profits rose to £823.1 million from £748.5 million for the same years.
The business has, however, lowered its sales and profits guidance for 2022-23 to allow for the closure of its websites in Russia and Ukraine and determining that some other overseas markets may be softer. Next can be relied upon to reflect trading conditions for the wider retail sector and others are making similar adjustments to their forecasts having also stopped selling to customers in Russia, Belarus and – due to the state of emergency in the country, to Ukraine. Next has, accordingly, lowered its sales guidance by £85 million and profit guidance by £10 million to £850 million.
In a statement, Next chair Michael Roney said: “2021 was another exceptionally productive year for Next as we worked hard to adapt and develop our business to enable us to maximise the opportunities of an increasingly online world.
“I am very proud to see how everyone within the business has embraced our challenges, opportunities and ambitions. I would like to thank them for this, and also for the continued commitment that they have shown over the past two years whilst having to deal with disruption to both their work and personal lives due to the pandemic.”
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