LONDON (Alliance News) - Next PLC Wednesday reported a rise in sales in the third quarter of its financial year and raised the lower end of its pretax profit guidance for the full year.
The fashion retailer said total full-price sales grew 6% in the quarter to October 24, growing 4.4% in the nine months to the same date. Of this, Retail sales, meaning store sales, increased 5.9% in the third quarter and 2.6% in the 9 months, while Next Directory grew sales by 6.2% in the third quarter and 7% in the nine months. Total sales including markdowns were up 7.3% in the quarter.
Next said it now expects full-year pretax profit to be in the range of GBP810 million and GBP845 million, having previously set the guidance at GBP805 million to GBP845 million.
Next said the current financial year will comprise 53 weeks rather than 52 weeks, and estimates it will make an additional GBP15 million to pretax profit from the extra week.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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Next (NXT)
