Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksNext Share News (NXT)

Share Price Information for Next (NXT)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 9,214.00
Bid: 9,212.00
Ask: 9,214.00
Change: -166.00 (-1.77%)
Spread: 2.00 (0.022%)
Open: 9,352.00
High: 9,400.00
Low: 9,208.00
Prev. Close: 9,380.00
NXT Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 2-Britain's Next re-opens online before maxing out daily limit

Tue, 14th Apr 2020 07:33

* Partially re-opens online after March 26 closure

* Initially only selling childrenswear, small home items

* Has daily limit for orders, then closes for day

* Stores have been shut since March 23
(Adds detail, analyst comment, shares)

By James Davey

LONDON, April 14 (Reuters) - British clothing retailer Next
hit a self-imposed daily limit within hours of
re-opening its online business on Tuesday, indicating consumer
demand during the coronavirus lockdown.

Government guidelines encouraged online operations to remain
open and retailers such as Marks & Spencer and John
Lewis have kept theirs going, as have pure online players ASOS
and Boohoo.

Next shut its stores on March 23, a day before Britain went
into lockdown, and halted its online business, which provides
over half its revenue, on March 26, bowing to pressure from
warehouse workers worried about their health.

On Tuesday, Next said it had partially reopened its online
operation after implementing "very extensive additional safety
measures" and consultations with staff and its recognised union,
USDAW.

Analysts at Peel Hunt noted that Next online generates
annual revenues of more than 2 billion pounds ($2.5 billion), of
which around 25% is by Label, its third-party branded platform.

"With the industry likely to be swamped by unsold seasonal
product, we believe Next will benefit as a useful clearance
channel, especially given the group’s commission model, which
will give the brands a level of control over pricing and
ranging," they said.

Next's website reopened for items such as childrenswear and
selected small home items at 0600 GMT but reached its self
imposed limit before 0730 GMT and is now closed until Wednesday.

"The idea is to begin selling in low volumes, so that we
only need a small number of colleagues in each warehouse at any
one time, helping to ensure rigorous social distancing is
complied with," it said.

To achieve this, Next will only allow orders for the number
of items it believes can be picked safely on any given day.

At that point it will then stop taking orders and convert
the website to "browse only" until the following morning.

Initially only categories that customers most need will be
offered. Other product ranges may be added at a later date.

Shares in Next, which have lost 34% of their value so far
this year, were flat at 1033 GMT.

VOLUNTEERS

Next said it had "completely re-organised" the way its
warehouses, which are mainly near the northern English city of
Doncaster, work to enable rigorous social distancing.

It had also instigated measures such as enhanced
sanitisation and ensuring safe movement when entering, moving
around and exiting from each site, mainly through setting-up
clear one-way systems and new walkways.

Next said operations will start only with staff who wish to
return to work and can do so without using public transport and
a spokesman said more than 3,000 volunteers had already offered
to return to work and would be paid bonuses.

As all have to be trained in the new safety arrangements
before they start, Next operated with about 500 on Tuesday.

Pre-crisis the group's total warehouse operation employed
about 9,000. However, that figure also includes workers who
serve Next's stores rather than the online business.
($1 = 0.7966 pounds)
(Reporting by James Davey; editing by Kate Holton, Sarah Young
and Alexander Smith)

More News
5 Apr 2024 09:33

LONDON BROKER RATINGS: RBC resumes Direct Line at 'sector perform'

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

Read more
3 Apr 2024 09:20

LONDON BROKER RATINGS: Barclays lifts Segro to 'overweight'

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

Read more
25 Mar 2024 10:19

LONDON BROKER RATINGS: SocGen raises Sage; Numis cuts Virgin Money

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

Read more
22 Mar 2024 09:21

British Land appoints Next's CFO as non-executive director

(Alliance News) - British Land Co PLC on Friday said it has hired fashion retailer Next PLC's chief financial officer, Amanda Jones, as non-executive director, with effect from July 1.

Read more
22 Mar 2024 08:59

LONDON BROKER RATINGS: RBC cuts St James's Place; HSBC cuts Ascential

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

Read more
21 Mar 2024 16:53

LONDON MARKET CLOSE: FTSE 100 up as investors see Fed, BoE cuts ahead

(Alliance News) - London's FTSE 100 jumped on Thursday, as markets rallied on the back of dovish interest rate decision statements from both the US Federal Reserve and Bank of England.

Read more
21 Mar 2024 16:33

London close: Stocks rise as BoE keeps rates on hold

(Sharecast News) - London markets closed higher on Thursday, sustaining gains after the Bank of England adhered to expectations by maintaining interest rates at a 16-year high.

Read more
21 Mar 2024 13:24

Moneysupermarket.com hires chair designate as part of succession plan

(Alliance News) - Moneysupermarket.com Group PLC on Thursday announced the appointment of its new chair designate as an independent non-executive director.

Read more
21 Mar 2024 12:19

LONDON MARKET MIDDAY: Stocks boosted as BoE keeps rates unchanged

(Alliance News) - Stock prices in London were higher at midday Thursday, after the Bank of England left interest rates unchanged, in a vote which remained split.

Read more
21 Mar 2024 09:20

TOP NEWS: Next celebrates record year as profit beats expectations

(Alliance News) - Next PLC on Thursday maintained its sales and profit guidance for the coming financial year after reporting record figures last year.

Read more
21 Mar 2024 08:59

LONDON MARKET OPEN: New York rally extends to London ahead of BoE

(Alliance News) - Stock prices in London opened higher on Thursday, following in New York's footsteps.

Read more
21 Mar 2024 07:52

LONDON BRIEFING: Stocks called up thanks to New York rally

(Alliance News) - Stocks in London are to open higher on Thursday, after a global equity market rally following the latest interest rate call from the US Federal Reserve.

Read more
21 Mar 2024 07:09

Next holds guidance as annual profits rise 5%

(Sharecast News) - Shares in UK fashion retailer Next jumped on Thursday as it held guidance for 2024 after posting a better-than-expected 5% rise in annual profits and flagged lower prices for customers this year.

Read more
14 Mar 2024 15:06

UK earnings, trading statements calendar - next 7 days

Friday 15 March 
Berkeley Group Holdings PLCTrading Statement
Volution Group PLCHalf Year Results
Monday 18 March 
Marshalls PLCFull Year Results
Seeing Machines LtdHalf Year Results
Serinus Energy PLCFull Year Results
SigmaRoc PLCFull Year Results
Team Internet Group PLCFull Year Results
Tuesday 19 March 
Atalaya Mining PLCFull Year Results
Close Brothers Group PLCHalf Year Results
DFS Furniture PLCHalf Year Results
Eagle Eye Solutions Group PLCHalf Year Results
Essentra PLCFull Year Results
Fintel PLCFull Year Results
Litigation Capital Management LtdHalf Year Results
Midwich Group PLCFull Year Results
Mpac Group PLCFull Year Results
MP Evans Group PLCFull Year Results
Pebble Group PLCFull Year Results
Personal Group Holdings PLCFull Year Results
Sabre Insurance Group PLCFull Year Results
Staffline Group PLCFull Year Results
Tissue Regenix Group PLCFull Year Results
Trustpilot Group PLCFull Year Results
Yu Group PLCFull Year Results
Zotefoams PLCFull Year Results
Wednesday 20 March 
Computacenter PLCFull Year Results
EKF Diagnostics Holdings PLCFull Year Results
Eurocell PLCFull Year Results
FDM Group PLCFull Year Results
Investec PLCTrading Statement
Kenmare Resources PLCFull Year Results
Prudential PLCFull Year Results
VietNam Holding LtdHalf Year Results
Thursday 21 March 
Aptitude Software Group PLCFull Year Results
Aquis Stock Exchange PLCFull Year Results
Centamin PLCFull Year Results
Direct Line Insurance Group PLCFull Year Results
Dowlais Group PLCFull Year Results
Energean PLCFull Year Results
Gulf Keystone Petroleum LtdFull Year Results
Hostelworld Group PLCFull Year Results
Ithaca Energy PLCFull Year Results
M&G PLCFull Year Results
National World PLCFull Year Results
Next PLCFull Year Results
Secure Trust Bank PLCFull Year Results
Tribal Group PLCFull Year Results
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
26 Feb 2024 09:36

PRESS: Next mulls rescue bid for ailing beauty chain, the Body Shop

(Alliance News) - Next PLC has approached administrators to the Body Shop about a potential deal to purchase parts of the stricken cosmetics chain, according to a report on Saturday.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.