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Next Struggles Trough Summer

By FashionUnited

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Next has been another victim of the UK heatwave, reporting almost flat like-for-like sales in the in the six weeks since August 3, up just 0.8 per cent.

In the six weeks since August 3 total store sales for the clothing retailer are 17 per cent ahead of last year, with like-for-like sales in the 286 stores trading for at least a year 0.8 per cent. Underlying sales in stores not affected by new space are 2.5 per cent ahead.

The summer blip follows a first half in which pre-tax profit for the six months to July was £123.2m, up from £115.8m last year and ahead of analyst forecast of around £118m.

Next retail saw turnover increase by 21 per cent, while Next Directory turnover was up 15 per cent. Chief executive Simon Woolfson said: "After a somewhat disappointing autumn season last year we were able to make significant improvements to the spring and summer ranges.

"Our ranges were better balanced with greater choice for our contemporary customer. In addition we corrected the fit issues we experienced in some of our womenswear ranges."

Next now operates 352 stores and iss continuingto expand its retail space.

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