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Gloucestershire Business News

Next sales exceed expectations

Sales at retail giant Next were ahead of forecast for the first quarter.

The fashion and home retailer, which has stores in Cheltenham and Gloucester, reported a 5.7% rise in full price sales for the 13 weeks to April 27, slightly up on its 5% forecast.

Retail sales remained flat, while online sales were up by 8.8% for the quarter.

Despite this, Next expects sales to dip by around 0.3% in the second quarter, based on strong sales boosted by warm weather in June last year.

Overall, it predicts full price sales for the first half will increase by 2.5%.

Next has maintained its annual sales and profit guidance, with sales predicted to reach £4.9bn and group pre-tax profit forecast to hit £960m - a rise of 4.6%.

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