Retail analysts are predicting a drop in sales when Next posts its second quarter update this week, after recording a worse-than-expected first quarter earlier.
Analysts at Deutsche Bank expect to see a 2.9 per cent fall in overall sales when Next releases its second quarter trading report on Thursday, according to The Sunday Times.
City AM reported that analysts at Investec predicted a similar drop.
Investec also predicted Next’s retail sales could drop by 8.8 per cent.
READ MORE: Next boss Lord Wolfson attacks government‘s Brexit approach
However, its expectations on online sales were brighter, with predictions of 5.2 per cent growth.
Next had a worse-than-expected first quarter, recording a three per cent dip in total full-price sales and an 8.1 per cent decline in retail sales.
Often regarded as the bellwether of fashion retail in the UK, Next’s trading updates often has a domino effect on the stock market.
Click here to sign up to Retail Gazette‘s free daily email newsletter
