Next is set to report a 3% fall in the number of customers using its lucrative credit facilities, continuing the decline from last year.
Shoppers buying on credit through Next Directory fell by 2.6% or 74,000 last year, The Sunday Times reported yesterday. Credit customers are more valuable than “cash” customers, as they bring in interest payments, as well as often buying more and more often.
Interest payments totalled £166.4m for Next last year, the newspaper reported.
Despite the fall in shopper numbers taking credit, Next is set to report 4.4% growth in pre-tax profits to £817m on Thursday and sales increase of more than 3%.