Cataloguer/retailer Next announced record group
pretax profits of £551 million in the year ending January
2011-up 9 per cent on the previous fiscal year. Group revenues
were also up, by 1 per cent, to £3.54 billion. Highlighting
the importance of the direct channel, Next says its home shopping
arm Next Directory now accounts for 27 per cent of group sales and
40 per cent of profits. Sales at the Next Directory division were
£935.5 million, up 7.1 per cent on last year.
Profits at DIY and tools retailer/cataloguer
Screwfix rose 24.7 per cent in the year to 29th
January 2011, to £28 million. At parent company
Kingfisher, which also operates
B&Q, UK and Ireland retail profits were up 11.8
per cent to £243 million.
Waitrose’s online expansion has “not gone
according to plan” writes the Guardian, which reports that the upmarket
supermarket chain’s new website has come under intense criticism
from customers.
Also in the news; the ECMOD Direct Commerce
Awards shortlist was announced this morning. For a full
list of finalists,
click here.
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