UK retailer Next has shared details of its trading in the thirteen weeks to 26 July. During the period, full-price sales were up 10.5 per cent versus last year, £49M and 6.5 per cent ahead of its original guidance.
Next has attributed its ‘overperformance’ in the UK to better than expected weather and trading disruption at one of its major competitors (Marks & Spencer). It also said that International sales grew faster than expected, mainly due to the effectiveness of its digital marketing.
Due to the increase in Q2 sales, along with improved sales guidance for H2, Next has raised its full year guidance for profit before tax by £25m to £1,105m.
The retailer has also acquired Seraphine for £600,000. The maternity wear brand fell into administration earlier this month following a period of difficult trading.
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