Next sales in the second quarter were ahead of expectations, resulting in an increase in the retailer’s profit guidance for the full year.
The fashion retailer reported full price online sales growth of 44 per cent in the 11 weeks to 17 July.
E-commerce sales in the UK jumped by 28 per cent during the same period.
Overall sales in across the 11 weeks rose by 18.6 per cent compared to pre-pandemic levels.
The company’s previous central guidance assumed an increase of 3 per cent.
But Next has now increased full price sales guidance for the rest of the year from 3 per cent to 6 per cent. This represents a £30 million increase, bringing the full year pre-tax profit to £750 million.
The retailer said that for the full year, surplus cash is forecast to be £240 million. It plans to distribute this cash to shareholders through special dividends during the current financial year, the first of which will be paid in September.
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Poundland significantly reduces antisocial behaviour, aggression and shoplifting with Motorola Solutions VT100 body cameras
Retail should not be a high-risk occupation. As a company, we are focused on listening to our colleagues and customers to help them with the issues they are facing in-store and so far, the feedback on our body cameras has been excellent. They act as a great visual deterrent, help to de-escalate situations and overall, this project has significantly aided our goal to make the retail environment safer.
For further information on Motorola Solutions’ retail security products, including body cameras, click here.
For further information on Motorola Solutions’ retail security products, including body cameras, click here.
Supplying demand: how fashion retailers can meet the needs of customers and still be sustainable
The fashion industry is no stranger to breaking the mould and setting trends, but the pursuit of style can come at a huge cost to the environment.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
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