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- 2022 -14 SeptemberClothing & Shoes
Next pulls out of Joules takeover deal
Fashion retailer Next has reportedly pulled out of its takeover deal with Joules after talks between the two ended, according to The Independent. Joules was said to be in investment talks with the group last month after reports stated it could sell a 25% stake to its larger rival. Following…
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6 SeptemberClothing & Shoes
St James Quarter adds Cos and Neom to offering
St James Quarter, the 1.7 million sq ft retail-led lifestyle district in Edinburgh, has announced it has signed deals to lease a collective 8,084 sq ft to fashion and wellness brands Cos and Neom. Cos has picked the lifestyle quarter as the location for its new Scotland store, which will…
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Aug- 2022 -30 AugustHigh Street
Joules deal with Next in danger after share price tumbles
Joules’ hope of securing an investment lifeline from Next has taken a blow after reports suggest that the two companies are still not close to coming to an agreement, according to Sky News. The news comes three weeks after it the companies first confirmed they were in discussions. Joules’ valuation…
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22 AugustClothing & Shoes
Next increases stake in Reiss to 51%
Next has reportedly upped its stake in Reiss to 51%, having previously acquired a 25% equity stake in Reiss back in March 2021, which was valued at around £200m, as part of a long-term, “strategic” partnership. It is reported that Next would’ve had an option to acquire an additional 26%…
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19 AugustClothing & Shoes
Joules faces FY loss as summer sales suffer
Joules has warned that it expects to deliver a full-year loss that is “significantly” below market expectations in its next financial results, amid rising inflation and weak trading in recent weeks. Over the five weeks to 14 August, since its last trading update in July, the group noted trading has…
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10 AugustEconomy
Deliveroo losses widen as Simon Wolfson steps down from board
Deliveroo has revealed its H1 pre-tax losses have widened to £147m from £95m the year prior and also confirmed that Next CEO Simon Wolfson has decided to step down from its board. The food delivery service saw revenue increase 12% to £1.01bn in 2022 compared with £907m in 2021, additionally,…
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8 AugustClothing & Shoes
Joules confirms talks to sell minority stake to Next
Joules has confirmed in a statement that Next plc has been in negotiations for several weeks for the retail giant to acquire up to 25% of the smaller London-listed retailer. The statement confirmed Next’s plan to adopt its total platform services to support the group’s long term growth plans. Additionally,…
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5 AugustEconomy
Tax cuts won’t solve economic crisis, says Next CEO
Simon Wolfson, the chief executive of fashion retailer Next, has claimed that inflationary pressures can only be tackled by increasing the supply of goods and workers as tax cuts will not solve the challenges facing the British economy, according to The Telegraph. The Telegraph reported that Wolfson also predicted that…
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4 AugustHigh Street
Next raises profit guidance amid strong sales performance
Next has revealed its sales performance exceeded expectations by £50m, leading the retailer to raise its full-year profit guidance by £10m to £860m. Full price sales were 4.7% stronger than expected in the second quarter to 30 July, which Next said was due to “unusually warm and dry weather in…
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3 AugustHigh Street
JD Group to open flagship store in Trafford Centre
The JD Group has announced it has agreed a deal with Manchester’s Trafford Centre which will see it launch a new flagship store at the location. The new 42,412 sq ft flagship store will be the largest in its global portfolio. The news comes shortly after the announcement that Next…
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