Fashion retailer Next have announced brand sales in the third quarter (Q3) rose 4.3 per cent as ‘volatile‘ trading continued.
Operating from over 500 stores in Britain in Ireland and about 200 stores in over 30 countries overseas, Next said sales were slightly above its second half guidance range of 1 -4 per cent.
In a statement, the group, which is worth £8.12bn, said with three quarters of the year completed, and better visibility of full year costs it was able to further narrow sales, profit and EPS guidance for the full year.
Yearly directory sales grew 9.2 per cent which propped up weaker year to date retail sales (-0.5 per cent.)
Recent data and surveys have pointed towards an economic recovery for some time, but Debenhams, Sainsbury‘s and Tesco say they believe consumer spending will not pick up next year.
Anusha Couttigane, fashion consultant at Conlumino, commented: “Next‘s outlook remains strong… it is making headway in the style stakes, taking a step away from its usually ‘safe‘ approach to fashion.”
Sales in the final weeks of August and September indicate they were tough trading periods, with warm weather in August denting sales significantly.
Next intend to post a Christmas sales update for the period to 24 December 2013 on Friday 3 January 2014.
