HomeBusiness NewsRetail NewsNext raises profit guidance once again after strong Christmas...

Next raises profit guidance once again after strong Christmas sales

Next has upgraded its full-year profit guidance for the fifth time in eight months after sales over the golden quarter performed better than anticipated.

Next raises profit guidance once again after strong Christmas sales

Full price sales surged 5.7% in the nine weeks to 30 December, beating its previous guidance of +2% for the quarter by £38m.

As a result, the fashion and home retailer is raising its pre-tax profit forecast by £20m to £905m for the year-end to January 2024.

Online sales surged 9.1% during the golden quarter and up 7.7% for the half-year, while store purchases edged up 0.6% over the period but remained flat on a half-year basis.

The retailer also gave guidance for its 2024/25 year, forecasting group sales up 6% and profit up 5%.

It said that the consumer environment for the upcoming year “looks more benign than it has for several years, albeit there are some significant uncertainties” relating to increased supply chain risks and a weakened employment market.

Next strengthened its retail portfolio in October when it snapped up high-street fashion chain Fatface for £115.2m.

Weekly Newsletter

Get hand picked industry updates delivered straight to your inbox
SUBSCRIBE!

You May Also Like

Stay Connected

- Advertisement -spot_img

Weekly Updates

SUBSCRIBE
- Advertisement -spot_img

Latest News

Editor's Pick

Weekly industry updates
SUBSCRIBE
close-link
SUBSCRIBE
close-link

Weekly Newsletter

Get hand picked industry updates delivered straight to your inbox
SUBSCRIBE!
close-link