Next maintains sales and profit forecast

Full price sales at Next plc in the thirteen weeks to October 30 were up 17 percent versus two years ago. The company said, full price sales in the last five weeks, since the update given in half year results issued in September, were up 14 percent, better than the forecast of 10 percent.

The company is maintaining fourth quarter full price sales guidance at 10 percent and full year profit before tax at 800 million pounds.

The company does not expect sales to continue at the level seen in the third quarter and is maintaining guidance for full price sales to be up 10 percent in the fourth quarter.

The company believes that growth in the fourth quarter will be lower due to the effects of pent‐up demand likely to continue to diminish, challenging stock availability, with delays in international supply chain being compounded by labour shortages in the UK transport and warehousing networks and although consumer finances are in good shape, price increases in essential goods such as fuel may moderate demand for more discretionary purchases.