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Next maintains guidance despite slower October

Next sales grew by 6% for the third quarter ended October 24, of which sales from new space increased by 1.7%.

Next’s full-price retail sales were up by 5.9% for the three month period, while Next Directory sales increased by 6.2%.

Next Q3 ended October 24

Next Q3 ended October 24

Next Q3 ended October 24

The results show a strong September, although set against poor comparative weeks last year. The final week of September and the first week of October highlighted tougher trading against the rest of the period.

Total Next brand sales, including markdown sales, were up by 7.3%, as markdown sales grew faster than full price sales. Total sales for Next retail were up by 5.4% and Next Directory by 9.8%.

The company said Directory sales grew faster than full price sales due to timing of the Directory Summer Sale, more of which was sold in the second half of the year.

Next said its full-year guidance remains broadly unchanged, with group profit before tax in the range of £810m to £845m. It previously advised between £805m and £845m.

 

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