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Sales ahead of expectations at Next

Published: 3 January 2014
Sales for the year to December 24 are 1.25% ahead of expectations and sales growth in the final week before Christmas reached nearly £24m.
Sales ahead of expectations at Next
In its January 2014 trading statement, looking at the fourth quarter of 2013, figures were ahead of what was forecasted by the company in October. Sales (excluding VAT) were up 7.7% on the previous quarter in the retail arm of the Next business and 21% in Next Directory.

Despite the week commencing December 22 benefiting from an extra day before Christmas, growth soared to nearly £24m, double the figure from the previous week (beginning December 15) and much higher than any week since July

As a result of a strong fourth quarter, the company said in its statement it is raising its profit forecast range, which is now £684m to £700m.

Looking further into next year, the retailer believes the economy will continue to steadily improve. However, it said: "The problem of little or no growth in real earnings looks set to persist for some time, and we cannot see any reason to expect a significant increase in total consumer spending in the year ahead."

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