Next ups guidance again as it closes in on £1bn profit
Alongside upping its profit guidance, Next expects full price sales to increase 4% over the year and total group sales to jump 6.6%
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Next has announced that it has upped its full-year profit guidance by £15m, up to £995m, as it closes in on £1bn profit.
This is the second time in two months that Next has increased its guidance after increasing it in August to £980m as a result of strong summer sales.
It comes as the retailer saw its pre-tax profits jump 7.1% to £453m for the six months ended 31 July 2024.
Alongside this, its total group sales, including brands such as FatFace and Reiss increased 8% to £2.9bn and full price sales rose 4.4% to £2.36bn over the half.
The company stated that full-price sales had “materially exceeded our expectations” in the first six weeks of its second half and were up 6.9%.
Its UK retail sales rose just 1.1% to £1.9bn, which the company claimed was “held back by tough comparisons with last year’s exceptionally warm Q2”.
Alongside upping its profit guidance, Next expects full price sales to increase 4% over the year and total group sales to jump 6.6%.
