Next sales exceed expectations
By Sarah Wood | 1st May 2024
Sales at retail giant Next were ahead of forecast for the first quarter.
The fashion and home retailer, which has stores in Cheltenham and Gloucester, reported a 5.7% rise in full price sales for the 13 weeks to April 27, slightly up on its 5% forecast.
Retail sales remained flat, while online sales were up by 8.8% for the quarter.
Despite this, Next expects sales to dip by around 0.3% in the second quarter, based on strong sales boosted by warm weather in June last year.
Overall, it predicts full price sales for the first half will increase by 2.5%.
Next has maintained its annual sales and profit guidance, with sales predicted to reach £4.9bn and group pre-tax profit forecast to hit £960m - a rise of 4.6%.
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