Next records £70m more sales than expected over Christmas

Next has confirmed that Gap's new concession at its Oxford Street store is to open on 14 March 2022.
The two retailers have formed a joint venture to operate Gap’s ecommerce business across the Next Total Platform.
// Next increases its full year profit guidance after enjoying a bumper Christmas trading period
// Retailer records 20% rise on pre-pandemic festive sales despite low stock levels
// Next said it now expected to make £822m in annual profits

Next has registered £70 million more sales than expected over Christmas after a rise in online orders of party dresses and occasionwear.

The fashion retailer said it now expected to make £822 million in annual profits, £22 million more than previously expected and almost 10% ahead of pre-pandemic levels.

In the eight weeks to Christmas, Next said its sales rose 20% on 2019 despite suffering “materially lower” levels of stocks than it had hoped for.


READ MORE: Next warns on stock availability issues despite sales rise


The business said its delivery service had been affected by labour shortages in its warehouses and distribution networks.

“The fact that our sales remained so robust in these circumstances is, we believe, testament to the strength of underlying consumer demand in the period,” Next said.

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3 COMMENTS

  1. Super results showing a calm authority over high streets, shopping centres, retail parks and online. All the bases covered. Of course they have had a little help from retail outlets no longer in existence, providing them with new customers.

  2. $22m extra “profit” on $70m extra sales seems high. I wish the article was clearer in its terminology, is this Gross Margin, Gross Profit, EBITA or true profit?
    Whatever I am happy to see Next doing well; it is where I started in corporate retail.

  3. They was saved yet again by online. Store were down yet again and have been for some while. Even pre pandemic NEXT stores were down on a consistent basis, it’s why they re-negotiated all rents to turnover base rents.

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