Next reports better than expected Christmas sales
It follows figures in October which saw the brand witness a 17.9% decline in Q3 and markdown sales which were 12.3% lower than its last year.
Register to get 1 more free article
Reveal the article below by registering for our email newsletter.
Want unlimited access? View Plans
Already have an account? Sign in
Fashion retailer Next has revealed its sales in the nine weeks to 26 December were down 1.1% on last year, a figure which is “much better” than what the store predicted in October.
In a post-Christmas trading statement the brand said the “benefit of better sales” in November and December and anticipated losses from store closures in January, would have boosted profit before tax to £370m.
However due to a non-recurring profit and property provision the brand has been forced to forecast that figure to be £342m.
Next, which has been one of the many non-essential retailers to close during the on going Covid-19 pandemic added that sales made in its online business compensated for almost all those lost in retail stores, with total product full price sales down just -0.5%.
It follows figures in October which saw the brand witness a 17.9% decline in Q3 and markdown sales which were 12.3% lower than the previous year.
The company has now said that as part of its central guidance it predicts profit before tax for 2021 to be £670m.
