Next raises profit outlook again as sales rise

Next has raised its full-year profit outlook for the fourth time in six months as it reported a 5.9% rise in first-half profits.ext has appointed Soumen Das as an independent non-executive director with effect immediately.
Next has benefitted from strong trading since Covid restrictions were lifted.
// Next raises its full-price sales guidance for the rest of the 2021-22 year to 10%, up from 6%
// The fashion retailer made a pretax profit of £347 million in the six months to July

Next has raised its full-year profit outlook for the fourth time in six months as it reported a 5.9% rise in first-half profit on a two-year basis, benefiting from strong trading since
Covid-19 restrictions ended.

Next, which trades from about 500 stores as well as online, made a pretax profit of £347 million in the six months to July, on full-price sales up 8.8 per cent versus 2019 – before the pandemic started to disrupt trading.

The group said full-price sales in the last eight weeks increased 20 per cent versus 2019, materially exceeding its expectations.


READ MORE: Next to run Gap’s UK operation in a joint venture


It raised its full-price sales guidance for the rest of the 2021-22 year to up 10 per cent, versus up 6 per cent previously, and its forecast for pretax profit to 800 million pounds, 36 million pounds ahead of its previous guidance.

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2 COMMENTS

  1. NEXT is saved by online yet again and already playing on the drive shortage for the build up to and over Christmas. M&S will soon follow suit and blame the lorry driver shortages for a poor Christmas sales. I predict after Christmas NEXT will announce store closures and blame everything but then selves! I comment on the past (pre covid ) NEXT store sales have been falling for some time as they cannibalise store sales to online. Online should be an extension of your shop floor not the other way round like NEXT do. Their also using 3rd party brand sales to bolster performance to.

  2. On shop sales results it’s important to see the forward direction that Next is taking via new formats like that at Fosse Park and the Home / Beautiful store at Milton Keynes. This shows a business still committed to a strong physical presence.

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