Retailer Next's pre-Christmas sales ‘were disappointing’
Leicestershire fashion giant Next announced “disappointing’’ Christmas sales performance today but said it was cheered by the strength of online trading.
The group which has its hedaqurters in Enderby and operates 520 stores, said high street sales between August and Christmas Eve were down 2.7% on a year earlier, despite the previous year’s figures being hit by cold weather.
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Next said its high-profile post-Christmas sale went well
This was more than offset by a 16.9% rise at its online and catalogue Directory business. Overall sales for the Next brand were 3.1% higher, in line with its guidance in November.
Although the final week before Christmas was strong, overall sales in November and December were “disappointing’’, as it refused to discount stock and maintained its profit margins.
But more people left their shopping until after Christmas when Next put on a high profile sale, which it said “went well’’.
The group narrowed its full-year profits guidance to £7 million either side of £565 million, compared to £551 million a year earlier.
However, it said profits next year would only show a slight improvement amid challenging conditions for consumers.
7 Comments
by sydney11
Wednesday, January 04 2012, 11:17PM
“I went to the Next Sale - really just a 'pile of junk' which would have been better sent to the re-cylcing”
by Red_Ned
Wednesday, January 04 2012, 10:54PM
“Martin8 - are you sure you haven't got moths?
This article is badly titled considering this line "Overall sales for the Next brand were 3.1% higher, in line with its guidance in November."”
by Rachel_Leics
Wednesday, January 04 2012, 7:02PM
“I heard this as well Digger12345 - how weird, but i guess from last year it was worse? x”
by Digger12345
Wednesday, January 04 2012, 1:15PM
“Are they really struggling?? Doesn't read that way to me. Is £565M profit not enough???????????
Agree with you re jobs in Leicester, maybe Next can move their sweat shops to the UK.”
by Digger12345
Wednesday, January 04 2012, 1:14PM
“Are they really struggling?? Doesn't read that way to me. Is £565M profit not enough???????????
Agree with you re jobs in Leicester, maybe Next can move their sweat shops to the UK.”
by Martin8
Wednesday, January 04 2012, 1:03PM
“Disappointing like the quality of their clothes. Next is poor and cheap I boughth a pair of trousers from their and within 2 weeks they had holes in the them. Expensive prices, chear quality, people will not be fooled.”
by Chick7766
Wednesday, January 04 2012, 9:50AM
“Oh dear - things must be bad if Next is struggling. Come on Cameron - sort out the economy sooner rather than later. Leicestershire needs more jobs not more firms closing”