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Heatwave boosts sales at Next

Full price sales at Next for its first quarter increased by 6% year on year, following unusually warm weather in the UK.

Full price online sales for the 14 weeks to 7 May jumped 18.1% compared to 2017, driven by both Next own brand and third party brands on its Label site.

However, full price sales in store for the period dropped 4.8% year on year.

Sales in the first quarter were round £40m ahead of expectations and adds around £12m to the retailer’s full year profit. It is changing its full year guidance to reflect this.

Next now expects full year sales to be 2.2% ahead of 2017, compared to a 1% increase.

It also believes profit before tax will drop by 1.3% compared to last year, rather than the previously expected 2.9% fall.

Next added that it does not expect sales for the rest of the year to be as strong as the first quarter.

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