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UK apparel retailer Next raises sales and profit outlook for 2010

UK multinational clothing, shoes and household goods retailer Next plc has raised its full-year sales guidance from 3% to 6%, supported by sales for the 11 weeks leading up to July 17. .. This is 18.6% higher than expected. The same time two years ago. The company estimates its pre-tax profit for 2010 to be £ 750m.

Next, we’ve listed some of the factors that contributed to the unexpectedly strong sales performance. Demand for adult clothing has stagnated as many customers have made few summer purchases in the last 18 months. Very warm weather begins at the end of May and the beginning of June. After very warm weather, growth slowed significantly. Fewer vacations abroad could increase domestic spending in the UK. Consumer savings have increased significantly compared to last year.

In a statement, UK retailers said in the last 11 weeks, UK sales performance in all Next divisions has improved with the opening of stores. Label performance improved 64% and overseas online business surged 61%.

For the full year, Next’s surplus cash is projected to be £ 240m. The company has also decided to reimburse the government for a £ 29 million bailout. According to the company, this amount indicates the period of this year when the store is open but not charged.

Fiber2Fashion News Desk (JL)

UK multinational clothing, shoes and household goods retailer Next plc has raised its full-year sales guidance from 3% to 6%, supported by sales for the 11 weeks leading up to July 17. .. This is 18.6% higher than expected. The same time two years ago. The company estimates its pre-tax profit for 2010 to be £ 750m.



UK apparel retailer Next raises sales and profit outlook for 2010

Source link UK apparel retailer Next raises sales and profit outlook for 2010

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