As expected Next has confirmed that its second-quarter store sales – to July 25th – fell by 72 per cent as compared with last year. It did, however, report a nine per cent increase in its online revenues as well as a less severe drop in its full price sales than forecast.
The business said; “Whilst much of our time has been focused on managing the business through the pandemic, we have not lost sight of the fact that our sector was already experiencing far-reaching structural changes as consumers increase their expenditure online. If anything these changes are likely to accelerate as a result of the crisis.”
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