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Pin to quick picksNext Share News (NXT)

Share Price Information for Next (NXT)

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Share Price: 9,308.00
Bid: 9,272.00
Ask: 9,276.00
Change: 0.00 (0.00%)
Spread: 4.00 (0.043%)
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Prev. Close: 9,308.00
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Next shares race up FTSE 100 after JPMorgan lifts rating to 'overweight'

Wed, 15th Apr 2015 08:24

UK high street retailer Next raced up the FTSE 100 index on Wednesday with shares up 2% in early trade after JPMorgan lifted its rating on the company to 'overweight' from 'neutral'.While JPMorgan favours Marks & Spencer stock on three-to-six month view for its ongoing turnaround potential, the US investment bank sees scope for Next to recover some of its recent underperformance (stock down 13% year-to-date) between now and its upcoming trading update on 29 April."We think that the more favourable weather since Next last updated the market on 19 March, assisted by the favourable UK consumer background, should have led to stronger trading in the second half of the first quarter next year," said JPMorgan.More fundamentally, JPMorgan thinks that market concerns about Next's core UK Directory business going through slow growth are overdone, as strong growth of UK customer numbers suggesting good underlying momentum."Moreover, we believe that any slowdown will be largely offset by reduced cannibalisation in the retail business and by growth elsewhere in online business," added JPMorgan.As such, the bank lifted its target price on Next to 7700p from 7100p.Traders also highlighted a report in the Daily Mail on Wednesday which said Next chief executive Lord Wolfson has told staff he will give up his bonus next year to help subsidise a 5% pay rise for his shop workers.Wolfson, a Tory peer has said that the retail giant will increase the entry level wage for 20,000 staff from £6.70 an hour to £7.24 and has volunteered to fund this, in part, through his own pay reward."We will again increase standard entry level wages by at least 5% in our annual October wage review," said Wolfson in a letter to Next workers, seen by the Mail.
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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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4 Jan 2024 07:02

Next lifts guidance after better-than-expected Xmas sales

(Sharecast News) - UK fashion retailer Next lifted annual guidance for the fifth time in seven months after full-price sales came in a massive £38m more than expected during November and December, but warned that attacks on shipping in the Red Sea could cause supply delays.

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28 Dec 2023 15:56

UK earnings, trading statements calendar - next 7 days

Friday 29 December 
Pantheon Resources PLCFull Year Results
Monday 1 January 
no events scheduled 
Tuesday 2 January 
no events scheduled 
Wednesday 3 January 
no events scheduled 
Thursday 4 January 
M&C Saatchi PLCTrading Statement
Mattioli Woods PLCTrading Statement
Next PLCTrading Statement
Videndum PLCTrading Statement
Walker Crips Group PLCHalf Year Results
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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27 Dec 2023 17:02

LONDON MARKET CLOSE: Stocks start week higher as 2024 draws to close

(Alliance News) - Equities in London kicked off an abbreviated trading week with gains on Wednesday, on continued US interest rate optimism at the end of 2024.

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