All Next articles
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ArticleNext maintains its guidance despite expectations of lower full-price sales
Next maintained its guidance for the year ending in January 2025 despite warning that growth in full-price sales could slow down. The British fashion company said it is still expecting pre-tax earnings of £960 million (€1.12bn) based on a 2.5 percent increase in full-price sales, with a 5 percent rise ...
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ArticleNext lifts guidance again but warns of potential stock delays from Red Sea shipping attacks
Next has lifted annual guidance for the fifth time in eight months after full-price sales came in £38 million (€44m) more than expected during November and December, but warned that attacks on shipping in the Red Sea by Iran-backed Yemeni Houthi militants could cause supply delays. Full-price sales in the ...
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ArticleNext hikes stake in Reiss to 72%
The British fashion retailer Next and the Reiss family have agreed to acquire a 34 percent interest in the fashion group Reiss for £128 million (€149.3m) from the private equity Warburg Pincus. Upon completion of the transaction, which is expected to take place in mid-October, Next’s holding in the Reiss ...
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ArticleNext lifts guidance again on strong rise in Q2 full-price sales
Next has raised its annual profit forecasts again after strong second-quarter full-price sales and better-than-expected clearances of summer stock. The British fashion retailer raised guidance by £10 million (€11.6m) to £845 million (€980m), just six weeks after its last upgrade. Next also forecast that annual full-price sales will be 1.8 ...
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Next increases full-year guidance after strong start to Q2
Next increased its full-year guidance after a strong start to its fiscal second quarter thanks to warmer weather and higher household incomes in the wake of annual salary increases. In the first seven weeks of the second quarter, full price sales were up by 9.3 percent year-over-year. Over the ...
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Next’s Total Platform has a bright future
Next’s Total Platform is expected to boost the long-term financial estimates and valuation for the British fashion retailer, according to the broker RBC Capital Markets. The platform offers brands Next’s infrastructure and online services, including next day delivery, quick refunds and AI-driven search and recommendations, the broker pointed out. Currently ...
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ArticleNext sees spring sales hit by weak consumption and colder weather
Next maintained its full-year earnings guidance after recording a smaller-than-expected drop in first-quarter sales, but warned it expects a bigger decline in revenues this spring, due to the cost of living crisis and colder weather than last year. Total full-price sales were down by 0.7 percent in the 13 weeks ...
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ArticleNext cautious on outlook but sees inflationary pressures easing
Next reported a better-than-expected annual profit but warned that it still expects sales and earnings to fall in a “very challenging” current fiscal year. Inflationary pressures were forecast to ease as freight costs drop and the cost of goods improve, but higher wages and energy costs are still expected to ...
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Next buys the Cath Kidston brand
Next has agreed to buy the brand name, domain names and intellectual property of CK Acquisitions, which owns the modern vintage brand Cath Kidston, from administrators for £8.5 million (€9.7 million). The British fashion retailer will license back to the administrators the cathkidston.com domain for up to 12 weeks to ...
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ArticleNext lifts guidance as Christmas sales are more resilient than expected
Next lifted its full-year profit guidance as it reported better-than-expected sales over the Christmas period, but struck a cautious note on the outlook for the year ahead. Full-price sales rose by 4.8 percent year-over-year in the nine weeks to Dec. 30, £66 million (€74.5m) ahead of the company’s previous guidance ...
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Next buys fashion retailer Joules, saving 1,450 jobs
The British apparel and footwear chain Joules has been bought out of administration by its founder Tom Joule and Next in a deal that will save 1,450 jobs. Next will buy around 100 Joules shops for £34 million (€39.5m) and take a 74 percent stake in the company after a ...
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Next buys Made.com brand, intellectual property
Next, the British clothing retailer, has agreed to acquire the brand name, domain names and intellectual property of Made.com Design Ltd from administrators for a consideration of £3.4 million (€3.9m). Made.com is an online furniture retailer created in 2010 by Ning Li, Brent Hoberman and Chloe Mackintosh.
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News briefsNext maintains FY guidance as Q3 comes in ahead of expectations
Next maintained its full-year guidance as it posted a rise in third-quarter sales, despite soaring inflation hitting consumer spending. Full-price sales were up by 0.4 percent year-on-year in the 13 weeks to Oct. 29, slightly ahead of the expectations of the British fashion retailer. Online sales fell by 1.9 percent ...
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Next Q2 sales ahead of expectations
In the second quarter ended on July 30, Next’s full-price sales rose by 5.0 percent versus last year and were £50 million (€59.4m) more than it had expected. The British apparel retailer maintained its full-price sales growth guidance second half at 1.0 percent. But, Next increased its full-year profit guidance ...
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Next Q1 sales in line with guidance
In the thirteen weeks to April 30, which corresponds to its fiscal first quarter, Next’s full price sales rose by 21.3 percent year-over-year, in line with the guidance of the British apparel retailer. The company maintained its full-year guidance of full price sales up by 5.0 percent, profits before tax ...
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ArticleNext sees £85m sales hit from Ukraine war, lowers profit guidance
The British fashion retailer Next cut its profit guidance as the closure of websites in both Russia and Ukraine will knock a predicted £85 million (€102m) off its sales forecasts for the current financial year. The company also expects an 8 percent rise in selling prices in the second half, ...
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Next cuts sick pay for unvaccinated staff isolating after Covid contact
The British fashion retailer Next is cutting sick pay for unvaccinated staff who must self-isolate due to exposure to Covid-19. The move means that unvaccinated workers required to isolate after being identified as a close contact of someone with Covid could receive as little as the UK’s statutory sick pay ...
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Next to sell the Gap brand in the U.K., Ireland
The British apparel retailer Next has reached an agreement under which it will sell the Gap brand in the U.K. and Ireland after the U.S. brand decided to close its own stores in those markets. The two groups have created a joint venture to operate Gap’s e-commerce business across Next’s ...
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ArticleNext sees full price sales returning to 2019/2020 levels this year
Next , the British retailer of clothing, footwear and home products, anticipates a strong rebound in profits in the financial year ending in January 2022, as full price sales return to the levels posted in the financial year that finished in January 2020. The company reported that full price ...
