Sales at Next have risen in the six months to July 2024, leading the clothing and home furnishings retailer to raise its full-year profit guidance.

Total group sales rose by eight per cent to £2.95 billion, while pre-tax profit jumped by 7.1 per cent to £452 million.

Next predicts its group sales for the year to January 2025 will increase by 6.6 per cent, with full-price sales rising by four per cent.

The company added that full-price sales over the first six weeks of the second half had “materially exceeded” expectations, climbing by 6.9 per cent.

Next reported that overseas sales grew by almost 23 per cent over the first six months of the year, offsetting growth of just one per cent in the UK.

While Next-branded goods account for the majority of overseas sales, third-party brands now make up 17 per cent of overseas sales.

The company identified overseas sales as a strong avenue for future growth.

“Overseas, our market share remains fractional in almost all of the markets in which we trade, so there are no market constraints to our growth,” the report said. “Here, success will depend on our ability to execute well, find the right third-party relationships, and the speed at which overseas fashion markets converge with the UK.”

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