Next Brands sales in H1 rise 10.7 percent

REPORT_ Next Brand sales for the first half of the financial year up to July 26, 2014 were up 10.7 percent,

of which 2.4 percent came from the opening of profitable new space. Next Retail sales were up 7.5 percent and Next Directory was up 16.2 percent. Sales are currently ahead of the 5.5 percent - 9.5 percent full year growth guidance announced by the company in April. It is therefore raising and narrowing its sales guidance range for the year to 7 percent to 10 percent.

Though the company has not predicted full year sales range which happens to be below its current rate of growth, it estimates second half sales particularly difficult. So its guidance for the next six months is for growth of between 4 percent and 10 percent. As a result of the better than expected first half performance, it has raised the profit guidance by 25 million pounds (42.4 million dollars).

Company would announce its interim results for the 26 weeks period to July 26, 2014 on September 11, 2014.