Next sales rise after online shopping growth

Next- the clothing and furnishings retailer, has announced a strong performance from its Directory home shopping business.Next sales rise after online shopping growthThe online slaes rise offset a fall in sales at its High Street stores.

Total sales at Next rose 1.4% for the 13 weeks to 28 April.

Sales at its online Directory home shopping brand rose 11.8% in the quarter.

The results were in line with expectations, and Next said first half profits would continue to be ahead of last year.

Next is forecasting profits of £560 million to £610 million for the year to January 2013 if sales increase by between 1% to 4%. Last year’s pre tax profits were £570 million.

Next shares have risen 32% to £29.58  over the year and were up another 2.14% on the results.

These results emphasise the growing importance of the internet for online shopping- which are defying the problems hitting other High Street retailers.

The share price has been boosted by strong online sales and the company’s stated intention to buy back up to £200 million of its own shares from surplus cash flows.  It has already spent £36 million buying 1.3 million shares.

July 13, 2012  Tags: , , , , , , , , ,   Posted in: Business Profits, Business Sales, Business Win, Growing Business, Growing Profits, Growing Sales, Online Business Growth, Online Profits Growth, Online Sales Growth, Uncategorized

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