Next increases full year expectations

Next has increased its full year sales guidance after recording a strong first quarter.

The company said that over the 13 weeks ended 26 April, sales grew 10.8%. Next retail sales increased 8.8%, while directory sales grew 13.7%.

Next it now expects sales to increase 5.5 to 9.5%, up on prior guidance of 4 to 8%.

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The company said in a statement: “This new guidance might look conservative in the light of the first quarter’s performance. However, we always expected the first quarter to show above average sales growth as the comparative period last year suffered from a particularly cold spring and Easter holiday period."

It now expects profit before tax to be between £750-790 million from earlier guidance of £730-770 million.

 

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