Next online business outperforms store sales
Next said the strong performance of its Directory unit continues to compensate for disappointing trading at its Retail stores.
Next also said that “despite a good final week before Christmas, November and December sales were disappointing”.
"A number of factors have subdued sales in the final quarter and it is hard to judge to what extent warm winter weather and higher levels of competitor discounting masked the deeper, longer lasting, economic effects."
The Retail division saw sales (excluding VAT) fall 2.7% in the period from August 1st to December 24th versus the corresponding period the year before, while Directory sales improved by 16.9%.
Sales for the Next brand overall rose 3.1%, in line with the full year guidance range given in November of between 2.5% and 4.0%.