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Pin to quick picksNext Share News (NXT)

Share Price Information for Next (NXT)

London Stock Exchange
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Share Price: 9,140.00
Bid: 9,080.00
Ask: 9,086.00
Change: 38.00 (0.42%)
Spread: 6.00 (0.066%)
Open: 9,078.00
High: 9,144.00
Low: 9,016.00
Prev. Close: 9,102.00
NXT Live PriceLast checked at -

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Next downgraded by Credit Suisse on minimum wage concerns

Fri, 28th Aug 2015 10:31

(ShareCast News) - Next has been downgraded by Credit Suisse to an 'underperform' rating from a prior 'neutral' as the clothes retailer's "routes to growth are slowing".Credit Suisse said it was increasingly concerned about the gradual slowdown in Next's near- and medium-term growth drivers.The Swiss bank had been worrying about the tough comparative figures from last year that were making it hard for the FTSE 100 company to report growth this year, with next year's gross margins likely to be capped by the strength of the US dollar.Moreover, the Next Directory catalogue arm is "looking increasingly mature" in the UK, while the contribution of UK bricks and mortar stores space is gradually slowing.To this angst is now also added concerns over the impact to margins from George Osborne's new National Living Wage (NLW), with projections that it will either have to increase hourly pay from £7.04/hour to over £7.20 by April or restructure its pay to include bonuses, as well as matching the expected 6.7% yearly increase in NLW over the next four years.With shares in Next having continued to re-rate higher on an absolute and relative basis since the start of the year, and with the shares now looking "extremely overbought" versus the FTSE100, CS downgraded its recommendation with a maintained 12-month target price of 7,450p."With Directory showing signs of maturity in the UK, and retail space growth contributing just 1.7% per annum to sales, profit growth is becoming largely reliant on margin expansion."As operating margins already stand at near 20%, this task appears particularly demanding in light of the minimum wage increases.
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9 Jan 2024 09:47

UK's B&M not expecting material impact from Red Sea attacks

LONDON, Jan 9 (Reuters) - British discount chain B&M does not expect any material impact from disruption to shipments through the Suez Canal due to attacks by Iran-backed Yemeni Houthi militants in the Red Sea, its CEO said on Tuesday.

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9 Jan 2024 00:01

UK retailers report subdued Christmas spending: BRC

LONDON, Jan 9 (Reuters) - British retailers reported lacklustre sales around Christmas, according to industry data released on Tuesday which may add to concerns that the economy has tipped into a mild recession, less than a year before a likely national election.

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8 Jan 2024 09:24

LONDON BROKER RATINGS: Barclays cuts Berkley and Barratt, ups Bellway

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

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8 Jan 2024 07:17

LondonMetric buys warehouse for £21.2m for let to Next

(Sharecast News) - LondonMetric Property said it had bought a warehouse in Doncaster for £21.2m which will be let to fashion retailer Next for 13 years.

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5 Jan 2024 08:57

LONDON BROKER RATINGS: Jefferies cuts Mondi to 'hold' from 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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4 Jan 2024 17:03

FTSE 100 rebounds as Next outweighs slump in JD Sports

Next shines on profit forecast hike

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4 Jan 2024 16:54

LONDON MARKET CLOSE: Stocks up ahead of US nonfarm payrolls

(Alliance News) - Stock prices in London closed higher on Thursday, as investors eye the latest US non-farms data.

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4 Jan 2024 13:35

UK'S Sainsbury's to spend 200 mln stg on 9% rise in workers pay

LONDON, Jan 4 (Reuters) - British supermarket group Sainsbury's said on Thursday it would invest 200 million pounds ($254 million) on raising the pay of 120,000 workers by more than 9% to a level above the new rate of the government-mandated national minimum wage.

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4 Jan 2024 13:07

London close: Stocks rise as US jobless claims slow

(Sharecast News) - London markets showed mixed performance on Thursday as investors digested the latest UK services and mortgage data and a fall in jobless claims across the pond.

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4 Jan 2024 12:09

LONDON MARKET MIDDAY: Retailers Next and JD Sports bookend FTSE 100

(Alliance News) - Stock prices in London were slightly higher at midday on Thursday, with the FTSE 100 looking set to snap the two-day losing streak it suffered at the start of the year.

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4 Jan 2024 11:25

Red Sea attacks could moderate growth at UK's Next, says CEO

LONDON, Jan 4 (Reuters) - British clothing retailer Next's sales growth will likely be moderated if disruption to shipments through the Suez Canal due to attacks by Iran-backed Yemeni Houthi militants in the Red Sea continues through 2024, its boss said on Thursday.

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4 Jan 2024 10:17

UK clothing retailer Next ups profit outlook again on strong Christmas

Full price sales up 5.7% in nine weeks to Dec. 30

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4 Jan 2024 08:58

LONDON MARKET OPEN: Next leads buoyant FTSE 100 amid services PMIs

(Alliance News) - Stock prices in London opened up on Thursday, amid a slew of services PMI data, including for the UK, while reacting to the latest data from China.

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4 Jan 2024 08:06

TOP NEWS: Next ups profit outlook again after bumper Christmas trading

(Alliance News) - Next PLC on Thursday lifted annual guidance once again, after sales around the key festive period were better than what the retailer had anticipated.

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4 Jan 2024 07:57

LONDON BRIEFING: Stocks to open higher amid slew of services PMIs

(Alliance News) - Stocks in London are set to open slightly higher on Thursday, ahead of a slew of services PMI data, including for the UK, while reacting to the latest data from China.

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