Next has upped its full-year year profit guidance after a rise in sales in its third quarter.
The fashion retailer added £10m to its profit forecast, which now stands at £885m for the year, as it revealed sales had rose 4% – ahead of its 2% forecast – in its quarter to 28 October.
Although Next flagged sales had been volatile over the quarter due to changing weather conditions, it had ended up benefitting from cooler weather over the period.
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Online sales at the business rose 6.5% for the period while those in-store fell by 0.6%.
Next said its revised guidance for full-year full price sales growth now sat at 3.1%, assuming full price sales for the remaining year were up 2%.
The retailer said it expected to pull in £4.74bn full year sales for FY23.
The news comes after Next snapped up FatFace earlier this month for £115m under a takeover deal.
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2 Comments. Leave new
So next was saved by online and inflation.
In the meantime, JLP blames Brexit and inflation. They never blame the weak leadership.