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Next recovery continues despite slow May

Next failed to impress the City with its trading update this week, although its sales decline has slowed. For the 15 weeks to May 12, like-for-like sales fell 2.7% in the 336 stores unaffected by new openings, against a drop of 7.2% last year. Next Directory sales rose 4.6%. It said a good Easter was followed by a ‘very disappointing’ start to May.