Next reports ‘dramatic’ rise in sales in Christmas run-up

hl.co.uk:

We don’t support this browser anymore.
This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

Newsroom

Newsroom articles are published by leading news agencies. Hargreaves Lansdown is not responsible for an article's content and its accuracy. We may not share the views of the author.

HL Podcast

HL Insight

Next has upgraded profit hopes for the year after ringing up £38m more in sales than expected in the run-up to Christmas.

Article originally published by The Guardian. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

Published by

04 Jan 2024

The fashion and homeware chain said that full-price sales stepped up dramatically, rising by 10% in the last two weeks before Christmas. As a result, sales rose by 5.7% in the nine weeks to 30 December, far better than the 2% expected.

It is the fifth time in seven months that Next has increased its profit forecast.

Next said it had performed particularly well online after it improved its service, with sales rising by 9.1% in the three months to the end of December. Sales in stores rose by 0.6% after a fall in the prior quarter.

The retailer, led by longtime chief executive Simon Wolfson, said it now expected to make full-year profits of £905m, £20m more than previously hoped.

The company said it expected full-price sales to rise by 2.5% in the year ahead and up 6% in total, including new brands such as Gap and Reiss and discounted goods.

The stronger-than-expected trading figures will lift hopes for retailers over the