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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May- 2023 -9 MayClothing & Shoes
Regulator to investigate Joules auditor Deloitte
The Financial Reporting Council (FRC) has launched an investigation in relation to Deloitte’s audit of clothing retailer Joules. The investigation will examine Deloitte’s audit of the group’s consolidated financial statements for the year ended 30 May 2021. The retailer fell into administration last year, appointing administrators from Interpath Advisory to…
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4 MayClothing & Shoes
Next maintains guidance despite better than expected sales
Next has maintained its profit guidance for the full-year despite seeing better than expected sales figures for the first quarter. The company stated that its profit before tax is forecast to be £795m and earnings per share is expected to be 501.9p. Full price sales dropped 0.7% for the 13…
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Apr- 2023 -28 AprilHealth & Beauty
L’Occitane Group unveils its net-zero roadmap
The L’Occitane Group has unveiled a new net-zero roadmap as part of its commitment to reach a science-based net-zero target across all of its brands. The group said it aims to reduce its greenhouse gas (GHG) emissions by 2031 and achieve net-zero emissions by 2050, with its targets validated by…
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25 AprilOnline & Digital
Next to launch Joules ‘much earlier than expected’ but jobs at risk
Next has warned that some jobs may be at risk ahead of Joules’ total platform (TP) launch, which is set to go live “much earlier than expected” after Next made “significant” progress in delivering the online platform over the last year. The launch date for Joules on Next’s TP, which…
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19 AprilPeople Moves
Matalan appoints new chief customer and omni-channel officer
Matalan has announced the appointment of Ali Jones as its new chief customer and omni-channel officer, effective from today (19 April). Jones, who was the customer and community director at the Co-operative from 2018 to 2022, will be responsible for establishing a new customer function within the retail group. According…
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Mar- 2023 -29 MarchClothing & Shoes
Next profits jump 5.7% to £870m amid anticipation of future decline
Next has announced that its pre-tax profits rose 5.7% to £870m, up from £823m, for the year ended 31 January 2023. This number was £10m above the retailer’s guidance which it put down to strong sales in both its retail and total platform businesses. Furthermore, the company’s total trading sales…
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29 MarchClothing & Shoes
Next acquires Cath Kidston for £8.5m with job losses expected
Next has agreed to acquire the brand name, domain names and intellectual property of Cath Kidston for £8.5m, with job cuts expected as the group is wound down and its remaining stores close. The group said the cathkidston.com domain will be licenced back to the administrators for a period of…
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28 MarchClothing & Shoes
Next eyes Cath Kidston acquisition
Next is reportedly in advanced talks to rescue the Cath Kidston brand, in a move that would further expand its portfolio following the acquisitions of Joules and Made last year. According to Sky News, a deal could be closed as early as today (28 March), though some sources told Sky…
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27 MarchNews
Changing ownership model would be ‘tragedy’, says ex-John Lewis boss
Ex-John Lewis boss Andy Street said on Sunday that it would be a “tragedy” if the retailer changed its ownership model. Speaking on BBC’s Sunday with Laura Kuenssberg, Street said he would not think changing the model would be a good idea because “John Lewis goes beyond a shop”. It…
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21 MarchAdvice
EPR for Packaging – are you covered?
In a nutshell, extended producer responsibility (EPR) for packaging makes producers responsible for the cost of collecting, sorting and recycling household packaging. This includes the funding of council recycling collections and management of litter. The aim is to create a more circular economy, and to provide an incentive to reduce…
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