Next ups profit outlook as cold weather helps sales soar

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Next upped its profit guidance for the year again as sales jumped in its third quarter due to the early cold snap.

Sales at the chain rose 7.6% from last year for the 13 weeks to 26 October,  2.6% above its guidance for the quarter.

Next said the performance was driven by the early arrival of colder weather this year, versus an unusually warm September and early October last year.

Total UK sales climbed 5.8% for the period, while total UK online revenues were up almost 8%.



The fashion giant raised its profit guidance for the full year from £995m to £1,005m due to the strong performance.

It also forecast sales to hit £6.27bn in its full year results, a rise of 7.4% from last year, as it upped its fourth quarter sales guidance from a 1% rise to a 3.5% jump.

The update comes after Next snapped up a 16% stake in homeware and lifestyle brand Rockett St George last month, following a series of homeware and clothing collaborations between the retail giant and the brand.

The homeware brand insisted the new investment would allow it to expand its product range and customer reach.

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Next upped its profit guidance for the year again as sales jumped in its third quarter due to the early cold snap.

Sales at the chain rose 7.6% from last year for the 13 weeks to 26 October,  2.6% above its guidance for the quarter.

Next said the performance was driven by the early arrival of colder weather this year, versus an unusually warm September and early October last year.

Total UK sales climbed 5.8% for the period, while total UK online revenues were up almost 8%.



The fashion giant raised its profit guidance for the full year from £995m to £1,005m due to the strong performance.

It also forecast sales to hit £6.27bn in its full year results, a rise of 7.4% from last year, as it upped its fourth quarter sales guidance from a 1% rise to a 3.5% jump.

The update comes after Next snapped up a 16% stake in homeware and lifestyle brand Rockett St George last month, following a series of homeware and clothing collaborations between the retail giant and the brand.

The homeware brand insisted the new investment would allow it to expand its product range and customer reach.

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