Next enjoys strong Christmas trading
Next has increased its full-year profit guidance following a strong peak trading quarter. For the period 27 October to 28 December, the retailer achieved an increase in its full price sales of 5.2 per cent which came in at 1.1 per cent over its forecast. Its online division enjoyed a 15.3 per cent uplift which served to counter the 3.9 per cent fall in its store sales across the period.
The retailer has attributed its performance to a much colder November as compared with the year prior as well as improvements it made in stock availability. As a result of its peak performance, it is now predicting sales growth of 3 per cent for the year to end January 2021.