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Online sales help boost Next profits

Online sales help boost Next profits
Thursday November 3 2011

Next has reported a drop in sales of 3.3 per cent in its high street stores, but was boosted by a 16.9 per cent jump in online revenues.

Group sales, excluding VAT, rose a total of 3.3 per cent in the three months leading up to October 29th.

Analysts predicted that Next may have been hit hard by the unseasonably warm weather at the end of September, forecasting between a fall in sales of 0.3 per cent and a rise of 3.0 per cent in sales.

Online sales have helped to propel a number of businesses, with industry body IMRG reporting a year-on-year rise of 15 per cent online, compared with overall retail sales growth of just 0.6 per cent.

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