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Sales rise 10.8% at Next as it continues online investment

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Sales at fashion retailer Next rose 10.8 per cent for the 13 weeks to April 26 2014 as it outperformed its own market guidance.

Retail sales rose 8.8 per cent while directory sales were 13.7 per cent ahead.

In a statement the company said: “We always expected the first quarter to show above average sales growth as the comparative period last year suffered from a particularly cold Spring and Easter Holiday period.”

Next said it would increase its sales guidance from 4 per cent–8 per cent to 5.5 per cent–9.5 per cent for the full year. It expected pre-tax profit to be £750m- £790m and increased its buy-back limit to £64.

David Alexander, consultant at Conlumino said its online division is likely to remain a focus for earnings growth for some time to come as Next will continue to invest in online over the coming year.

The retailer allows customers to order online by 10pm for next day delivery to home for £3.99 or free to a local Next store.

“Efficient online ordering and fulfilment has been key to Next’s success in this area and with fashion retailers continually moving the goalposts when it comes to fast and flexible delivery options, it is testament to Next’s sound management that it competes so strongly in this area,” he said.

Published on Wednesday 30 April by Editorial Assistant
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