Next’s half year performance boosted by strong growth in online sales

Next saw its pre-tax profit climb by 2.7% to £319.6 million in the six months to July as the company benefited from strong growth in online sales.

While sales in Next’s high street stores fell by 5.5%, online sales fared much better with an uplift of 12.6%.

Meanwhile, full price sales increased by 4.3%.

Next said September’s warm weather has had an adverse impact on sales. The company now expects its fourth quarter to be stronger than the third.

The retailer also revealed that it is well advanced in its Brexit preparations. While a no-deal Brexit is not its preferred outcome, it said it would not expect it to pose a material threat to its operations and profitability if ports continue to operate effectively.

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