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Next expected to post sales surge

Next is expected to post a 1% rise in retail revenues for its second quarter helped by a boost in sales from its online and catalogue business.

It is thought the retailer will report an 11.5% rise in sales at its online and catalogue division when it announces its second quarter trading statement on Wednesday, according to the Sunday Express. Analysts at broker Panmure Gordon have estimated that overall like-for-like retail sales growth will be around 1%.

Bethany Hocking, retail analyst at Investec Securities, said: “Next Directory, which accounts for a third of group revenues, should have benefitted from the wet weather, which drove some shoppers off the high street and on to online.”

In May Next revealed that total retail sales dipped 3.9% with like-for-likes estimated to have dropped 6.8% in the 13 weeks to April 28

However a rise of 11.8% in Directory sales boosted performance, while brand sales – of which net sales from new space were up 2.9% - edged up 1.4% in the first quarter, despite declining retail performance.

The retailer predicts that full year pre-tax profits will be between £560m and £610m.

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