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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Nov- 2024 -19 NovemberEconomy
Retailers warn National Insurance increase could cause job losses
A number of large retailers have warned that the National Insurance increase could cause inflation and job losses, in a letter sent to chancellor Rachel Reeves. Over 70 businesses including Tesco, Sainsbury’s, Next, Amazon, and Boots have written to Reeves, in a letter organised by the British Retail Consortium. The…
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7 NovemberNews-In-Brief
Today’s news in brief
Asda announced plans to cut 475 head office roles and reduce hybrid work arrangements, requiring staff to be in the office at least three days per week from January 2025. This decision is part of a turnaround strategy aimed at streamlining the company’s structure amidst challenging market conditions. The layoffs,…
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7 NovemberNews
Mamas and Papas sales hit ‘record’ £154m in FY24
Mamas and Papas has reported record sales of £154.3m, up 7.1%, for the 12 months to 31st March 2024. Sales across its 36 UK concessions with M&S and Next grew 48% in the period thanks to six additional destinations as well as the full-year sales impact from 15 new locations…
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5 NovemberNews
Sosandar signs licensing agreement with Next for homeware range
Women’s fashion brand Sosandar has announced it has signed a licensing agreement with Next for a Sosandar homeware range. Following the success of Sosandar’s clothing range sold through Next, Next is extending its partnership to licensing the Sosandar brand to develop a homeware range. Next is one of the largest…
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4 NovemberSupermarkets
Sainsbury’s becomes first grocer to match Aldi prices in convenience stores
Sainsbury’s has announced that it has extended its Aldi price match scheme into its convenience stores, becoming the first supermarket to do so. The price match offer is now available for all Sainsbury’s customers whether shopping online or in one of over 1,400 stores. It includes daily staples like milk,…
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Oct- 2024 -31 OctoberNews
Sainsbury’s sells Argos cards portfolio to NewDay Group
Sainsbury has announced the sale of the Argos Financial Services (AFS) cards portfolio to NewDay Group. The AFS cards support around 20% of Argos sales and are held by around two million Argos customers who use Argos credit to manage the cost of their purchases. The purchase price for the…
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30 OctoberNews-In-Brief
Today’s news in brief-30/10/24
Next is on track to surpass £1bn in profits for the first time, following a strong performance in autumn. The fashion retailer revised its full-year profit guidance from £995m to £1.005bn, citing a 7.6% increase in third-quarter full-price sales, exceeding its 5.0% projection. Colder autumn weather contrasted with last year’s…
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30 OctoberClothing & Shoes
Next profits set to top £1bn after autumn trading boost
Next profits are set to exceed £1bn for the first time ever this year, as strong sales over autumn have pushed its full-year guidance from £995m to £1.005bn.It comes as full price sales in the third quarter rose by 7.6% against last year, 2.6% ahead of Next’s previous quarterly guidance…
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28 OctoberNews-In-Brief
Today’s news in brief-28/10/24
Mike Ashley, founder of Frasers Group, has indicated readiness to step into the CEO role at Boohoo to initiate a turnaround strategy, following Frasers’ acquisition of a 27% stake in the fast fashion retailer. He criticised Boohoo’s management and recent refinancing, which he termed unsatisfactory for shareholders. Boohoo’s refinancing agreement…
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28 OctoberClothing & Shoes
FatFace falls to £3.2m loss following Next takeover
FatFace has fallen to a pre-tax loss of £3.2m in the 35 weeks ended 27 January 2024, down from a profit of £19.5m the prior year, after exceptional costs rose over the period.It comes as the group faced exceptional costs of £7.9m related to integrations following its takeover by Next,…
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