Skip navigation

Gloucestershire Business News

Big jump in sales for Next

Next saw sales up by 21.3 per cent in its first quarter.

The fashion and homeware retailer, which has stores in Cheltenham and Gloucester, said sales were in line with expectations and it is on track for pre-tax profit to hit £850 million - up 3.3 per cent on last year, as reported by Retail Gazette.

It had previously reduced its profit forecast for the year ahead by £10 million, due in part to the war in Ukraine.

Next's impressive results are despite shops being closed for much of its first quarter due to lockdown.

In-store sales were up 285 per cent on 2020/21, but down eight per cent compared to 2019/20 levels - the most recent year not affected by Covid.

Ecommerce sales were down 11 per cent on 2020/21, but up 47 per cent against three years ago.

Sales of Next's third-party branded online business were up 20 per cent year on year and 106 per cent against pre-pandemic levels.

Next's own brand online business performed more modestly - down 24 per cent year on year in the UK, but up 23 per cent against pre-Covid sales.

Next predicts that total full-price sales will be up between two per cent and eight per cent for the current year, with profits of between £795 million and £895 million.

Related Articles

Disabled riders qualify for National Championships Image

Disabled riders qualify for National Championships

Three young competitors from Chipping Norton's Riding for the Disabled Association competed in a regional challenge this week

Versarien highlights importance of university’s sportswear research Image

Versarien highlights importance of university’s sportswear research

The impact of ground-breaking research by University of Gloucestershire is highlighted in a new paper published by Gloucestershire-based Versarien.

Lilian Faithfull Care to open first charity shop Image

Lilian Faithfull Care to open first charity shop

Lilian Faithfull Care will soon be opening its first charity shop in Tewkesbury.

£8.8 million boost to help grow our forests  Image

£8.8 million boost to help grow our forests

Nurseries and tree suppliers in Gloucestershire can apply for grants to expand and improve their businesses

Copyright 2022 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.