Next says that for the nine weeks to December 30th its full price sales rose by 4.8 per cent over the same period last year and that it achieved £66 million more than its previous guidance. As a result, it has increased its full-year profit before tax guidance by £20m to £860m which up by 4.5 per cent on last year’s results. Online sales rose by 0.2 per cent with store sales up by 12.5 per cent for the period as compared with last year and do not, the business says, include sales generated by its most recent brand acquisition, Joules.
Next also reported that its end-of-season sale was progressing well and that clearance rates were ahead of its expectations.
In a statement the business said; “Both online and retail exceeded our full price expectations, with retail being particularly strong.
“We think that we underestimated the negative effect Covid was having on our retail sales last year. We may have also underestimated the effect improved stock levels would have on both businesses (stock levels were exceptionally low last year as a result of widespread supply chain disruption.”
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