Next maintains profit guidance

Fashion and homewares retailer Next has announced positive sales growth while maintaining its profit guidance.

In the thirteen weeks to 30 April full price sales were up +21.3% versus last year, although online sales had dipped by 11%.

Next said: “Last year, most of our Retail stores were shut for the majority of the first quarter, which is why Retail growth is so strong at +285%. Conversely, last year Online sales were boosted by Retail closures, which is why we planned Online sales to be down in the first quarter against last year. Online sales against three years ago remained strong and were up +47% versus 2019/20.

“We are maintaining our guidance for full year profit before tax at £850m, which would be up +3.3% versus last year.”

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