Online sales help Next to stay on track
Fashion and homewares retailer Next has said that strong online sales growth has compensated for a 3.3% decline in retail sales in its third quarter.
The retailer said the fall in revenue from its 520 stores had increased from a 1.8% decline in the previous six months.
Next Directory sales rose 16.9% in the quarter and are up 15.8% for the year-to-date.
Next Brand total sales for the quarter increased by 3.3%. The retailer said this figure was in line with its performance in the first half and that sales for the year-to-date are up 3.2%.
The group said its profit before tax for the full year is expected to be in the range of £550 million to £585 million, compared to £551 million last year.
Next said it remains confident that there will be no further increases in selling prices in the first half of next year and that margins and costs are in line with expectations.
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