Next
This coverage explores Next’s business strategy, operations, and performance within the UK retail sector. Reporting covers store and online developments, product ranges, financial results, marketing initiatives, supply chain management, and leadership decisions. With a focus on commercial outcomes and competitive positioning, it provides insights for retail professionals overseeing apparel, home, and multi-channel retail operations.
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Sep- 2023 -21 SeptemberNews
Today’s news in brief-21/09/23
Wilko’s administrators PwC are reportedly set to begin a review of dividend payouts totalling £77m to investors over the past decade. The review will focus on payouts to the Wilkinson family and other investors leading up to the retailer’s decline. Notably, despite posting losses of £39m, Wilko paid out a…
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21 SeptemberNews
Next raises full-year guidance amid improved trading conditions
Next has updated its full-year guidance following an increase in total sales and profit before tax during the first six months of the year to July. During the period, the retailer reported a 5.4% rise in sales to £2.6bn and a 4.8% increase in profit before tax to £420m. Operating…
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14 SeptemberSupermarkets
Lidl swings to loss despite revenues rising to £9.3bn
Lidl has reported a loss before tax of £75.9m despite seeing an 18.8% increase in its revenues to £9.3bn in FY23, according to its latest accounts for the 52 weeks ending 28 February 2023. Its EBITDA also dropped to £28.5m compared with £79m FY22 as it invested over £100m in…
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Aug- 2023 -11 AugustClothing & Shoes
Ralph Lauren reaffirms guidance as revenues edge up to $1.5bn
Luxury retailer Ralph Lauren has revealed it expects FY revenues to meet expectations of low single digit growth as its Q1 revenues increased to $1.5bn (£1.18bn), up from $1.49bn (£1.17bn) the same time last year. Its revenue performance was boosted by an 8% increase in Europe to $450m (£354m) and…
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9 AugustClothing & Shoes
Manchester martial arts clothing firm expands as sales double
* The Trafford Park firm, which specialises in stylish jiu jitsu sportswear kit, is global hit – shipping to more than 75 countries; * Brazilian jiu jitsu is the world’s fastest growing martial art and celebrity fans include billionaire tycoons Elon Musk and Mark Zuckerberg and movie stars Tom Hardy…
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8 AugustHigh Street
Gordon Brothers mulls potential Wilko rescue deal
The investment company, Gordon Brothers, which has backed high street retailer Laura Ashley, is in talks with Wilko’s advisers at PwC about structuring a potential deal, Sky News has learned. An offer could involve Gordon Brothers providing funding to the discount retailer to implement a restructuring that would involve “significant”…
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3 AugustDepartment Stores
Next ups guidance by £10m following strong Q2
Next has raised its full-year outlook following a strong second quarter of trading, with profit before tax now expected to be £845m, £10m higher than its previous guidance. It comes as total sales in the second quarter rose by 6.9% against the prior year. Online sales rose by 10% over…
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Jul- 2023 -25 JulySport & Leisure
Under Armour opens new Brand House on Oxford Street
Under Armour has opened its latest Brand House in London on Oxford Street. The Oxford Street location, which opened on 20 July, is the latest in a series of Brand House openings following Westfield Stratford, Battersea Power Station, and Liverpool. Under Armour reported this is its strategy to grow its…
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14 JulyNews
Next partners with stem cell charity Anthony Nolan
UK retailer Next has announced a two-year partnership with stem cell transplant charity Anthony Nolan. The charity will work with Unity at Next, the employee network group for cultural and ethnic diversity, to raise awareness of and diversify the Anthony Nolan stem cell donor register to support its strategic aim…
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11 JulyClothing & Shoes
Sosandar welcomes first full year of profitability
Sosandar has welcomed its first full year of profitability in FY23, in what was a “milestone year” for the group, as profits swung to £1.6m, up from a loss of £0.6m the prior year. Despite challenging macroeconomic conditions over the period, revenues also increased, with sales rising 44% to £42.5m,…
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