Next like for likes down 6%
Group very cautious about the outlook for the second half
The combined total sales of Next Retail and Next Directory for the first half were down 1.8 per cent on last year. Total retail sales fell 3.1 per cent as a result of much lower markdown sales, However sales at Next Directory were at the top end of expectations rising 2 per cent.
“We remain very cautious about the outlook for the second half and can see no reason for any improvement in consumer spending, indeed, the economic risks appear to us to be on the downside. We believe that continued year on year increases in food, fuel and mortgage costs will weigh heavily on our customers. We are therefore currently planning for Retail full price like for like sales in the second half to be down by a similar amount to that of the first half,” the company said in a statement.
