Next Q4 sales up 2.9 percent, updates outlook

Full price sales in the 58 days from October 28 to December 24, 2014 at Next, were up 2.9 percent, towards the upper end of the fourth quarter sales guidance range issued in its October statement. Total sales for the year to December 24 were up 7.7 percent.

The company expects full year profits to be within 10 million pounds (15.5 million dollars), which is 5 million pounds (7.7 million dollars) ahead of the midpoint profit guidance issued in October. The company says that factors like positive consumer sentiment, low inflation, an end to real wage decline, healthy credit markets and strong employment indicate positive picture than recent years. However it remains very cautions in its sales budgets for the year ahead.

The company is currently budgeting for full price sales growth in 2015/16 to be between over 2.5 percent and over 7.5 percent, with the first half expected to perform at the lower end of the range. Profits are expected to grow in line with sales.