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Strong Q2 for Next as sales storm ahead of expectations

Published: 29 July 2014
Sales for Next in the 26 weeks to July 26 are up 10.7%, ahead of the 5.5%-9.5% full year growth guidance given in April.
Strong Q2 for Next as sales storm ahead of expectations
Good sales growth was seen in both retail and catalogue sales for the company. Retail sales grew by 7.5%, while sales for Next Directory rose by 16.2%.

Of the 10.7% sales growth seen for the whole company, 2.5% of the growth came from the opening of profitable new space.

As a result of the strong growth already seen by the retailer, it is raising and narrowing its sales guidance range for the whole year to between 7% and 10%.

The retailer commented: "It might appear overly cautious to forecast a full year sales range which is below our current rate of growth. However, last year's first two quarters were hampered by a particularly cold spring and Easter which presented a soft comparison for this year."

Next is also raising its profit guidance by £25m from a range of £750m-£790m, to a range of £775m-£815m, which reflects the company's confidence.

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