Next posts 2.8 percent full price sales growth in Q2

Full price sales for the first half, Next Plc said, were up 4.5 percent on last year, while sales in the company’s online business were up 15.5 percent, driven by the growth in overseas and third party brands business, along with more modest growth in sales of Next branded stock in the UK. Sales in the retail stores, the company added, declined by 5.3 percent.

Next further added that full price sales in the second quarter were up 2.8 percent on last year and ahead of its guidance due to the prolonged period of exceptionally warm weather, which assisted the sales of summer weight product.

In its May trading statement, Next had issued guidance for full price sales for the rest of the year to be up around 1 percent. For the year ahead, Next expects total full price sales to increase 2.2 percent, Group profit before tax of 717 million pounds, down 1.3 percent against the prior year. However, the company expects earnings per share to grow 3.7 percent compared to 2017/18.

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