Next sales beat expectations
Fashion chain Next has today reported better than expected sales figures for the Christmas period.
The fashion retailer Next said like-for-like sales at Next Retail were up 3.2% in the 22 weeks to Christmas Eve.
Its mail order business, Next Directory, said sales increased by 6.8% compared with a year earlier.
As a result, it has now increased its full-year profit forecast to between £490 million and £500 million – its original estimate had been for £472 million.
The figures come hot on the heels of John Lewis who today said like-for-like sales were up 12.7% in the five weeks to 2 January 2010 compared with a year ago.
Both sets of figures boost hopes that the economy is making a recovery as consumers begin to spend again.
However, both retailers said they are cautious and about the coming year.
In a statement, Next said: “Sales in the run up to Christmas were better than expected and were markedly stronger in the final two weeks as the weather turned colder.
“We do not necessarily expect the year ahead to be as good as the previous six months,” it added.
Finally, Marks & Spencer is expected to report its first rise in underlying quarterly sales for more than two years tomorrow.
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