Next reports 3.5 percent rise in H1 sales

Next Brand full price sales for the first half of our financial year were up 3.5 percent, of which 1.7 percent came from the opening of profitable new space. Full price sales for Next Retail were up 0.8 percent and Next Directory was up 7.5 percent. Total sales including markdown sales were up 3.3 percent. Total stock for the end-of-season sale was up 4.8 percent on last year.

The company’s mid-point of full year profit guidance has increased by 1.9 percent from 810 million pounds (1,263 million dollars) to 825 million pounds (1,286 million dollars). Full year sales guidance range has been increased to 3.5 percent to 6 percent as a result of the better sales achieved in the first half of the year.

During the first half the company’s share price has remained above its buyback price limit of 68.27 pounds (106.4 dollars), so the company intends to pay a further special dividend of 60 pence per share on November 2, 2015 to shareholders registered at close of business on October 9.