Next sales up but bricks-and-mortar continues to drag

Next update

Next has reported an increase in full-price sales for the third quarter, despite another period of sales decline across its bricks-and-mortar estate.

For the quarter ending October 27, the fashion retailer reported a 1.3 per cent rise in product full-price sales.

It also said retail sales tumbled eight per cent, while online sales surged 12.7 per cent.

When accounting for interest income to Nextpay customers, Next said its total full prices sales rose two per cent for the quarter.

The overall result marks a slowdown on the 4.5 per cent rise in full-price sales seen in its first half.

However, Next said its full-year guidance remained unchanged, with the retailer forecasting annual sales growth of three per cent and a 0.1 per cent rise in group pre-tax profit to £727 million.

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