Next has continued to grow its sales – reaching revenues of £2.64bn for the six months to July 2023, up from £2.5bn last year. Pre-tax profits also rose from £400.6m to £419.8m. This, together with full price sales performing better than expected, has led the business to up its full year guidance for the third time this year from £875m from £845m.
Next said in a statement: “In short, so far, we have made good progress on all four fronts. Sales are better than expected; online service has significantly improved; costs are lower than expected and, although it is early days, and there have been bumps along the road, all three new business streams are showing signs of promise.
“Overseas, in particular, has taken a big step forward in the second quarter.”
It also said that looking further ahead, it is likely that inflationary pressure on selling prices and operating costs will continue to ease while the long term outlook is more positive than it has been for many years.
Share