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Next full-price sales edge up

Full-price sales at Next edged up 1.3% in the third quarter, but the high street stalwart warned they will slip again over the Christmas period.

The improved performance in the three months to 29 October meant full-price sales for the nine months to 29 October dropped 0.3%, in line with expectations.

Full price in-store sales for the quarter dropped 7.7%, while full price online and Next Directory sales were up 13.2% for the three months. 

For the nine months to 29 October full price in-store sales also dropped 7.7%, while full price online and catologue sales were up 9.4%. 

Total sales, including markdowns, were up 0.8% in the three months, and down 1.2% for the nine months to 29 October.

The retailer said trading remained “extremely volatile” and is highly dependent on the seasonality of the weather.

Sales in August and September were up “significantly” on 2016 thanks to cooler weather improved sales of warmer products.

Next said it expects sales in the last quarter of the year - over the Christmas period - to be down 0.3% on last year, due to tough comparisons.  

The retailer is maintaining the central profit guidance it issued in September but is narrowing the range from between £687m and £747m to £692m and £742m. 

Next expects total full price sales growth compared to last year to be between ‐ 1.75% and +1.25% down from its previous guidance of ‐ 2.0% to +1.5%. 

Readers' comments (1)

  • When businesses claim 'Full price sales' are up, what is the percentage of sales that can claim this 'big boast'?

    I would agree that Christmas is going to be relatively disappointing, with a potential recession by mid 2018.

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