Next struggles to return to normal
By Sarah Wood | 31st July 2020
Fashion and homewares retailer Next recorded a 28 per cent fall in full price sales in the second quarter, as it struggled to recover sales post-lockdown.
While online sales were up nine per cent year-on-year in the three months to 25th July, in-store sales fell by 72 per cent during the period, as reported by Retail Gazette.
Despite this, the retailer, which has stores in Cheltenham and Gloucester, said the sales fall was actually an improvement on the best-case scenario based on its April trading statement.
Next said that the fall in in-store sales had eased to 32 per cent since shops reopened in June, with total full price sales down just eight per cent over the last six weeks of the quarter.
For the first six months of the financial year, overall full price sales were down 33 per cent, with online sales down 11 per cent and in-store sales down 62 per cent.
Next said it did not advertise its popular summer sale this year, due to fear of overcrowding in reopened stores during the ongoing pandemic.
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