- Prachi Singh
-
|
Full price sales in the second quarter at Next Plc increased 4 percent
on last year, while the company said, was 4.5 percent better than the
guidance of negative 0.5 percent expectation given in its May trading
statement. Following the better than anticipated sales performance in the
second quarter, Next is increasing its full price sales guidance for the
second half from 1.7 percent to 3. percent, in line with its full price
sales growth in May and June.
The company added that increase in full price sales guidance is 70
million pounds and, after accounting for associated costs, is expected to
add 20 million pounds to profit. Lower clearance rates to date, along with
anticipated lower clearance rates in the second half, are forecast to cost
an additional 10 million pounds and as a result, Next is increasing
guidance for full year group profit by 10 million pounds to 725 million
pounds, marginally up on last year and expects earnings per share to grow
by 5.2 percent.
Next further said that the second quarter’s performance by month shows
that full price sales during May and June combined were up 3 percent; July
saw strong growth of 6.8 percent on last year. However, the company added
that some of July’s over-performance in full price sales came as a result
of lower markdown sales in the end-of-season sale.
Full price sales in the first half were up 4.3 percent on last year and
total sales, including markdown sales, were up 3.8 percent.
Picture:Next media gallery
