Next Bucks the Trend with "Exceptional" Sales

As the high street slows down, online sales ramp up for the retailer, which has raised its profit guidance for the year

James Gard 31 July, 2019 | 10:37AM

Next store

The troubles of the UK high street are well known but Next (NXT) has defied the odds with an upbeat trading statement that has sent shares up 9%.

Driven by a strong performance from the FTSE 100 retailer’s online division, sales were up 3.8% in the six months to the end of July. Next saw a boost from warmer weather in July and that coincided with the company’s end-of-season sale. The firm said July’s sales were exceptional and is basing forecasts on more subdued May and June sales.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Edinburgh Investment Ord443.02 GBP0.34
Invesco Income UK Z Acc229.20 GBP1.98
Invesco UK Equity Income Z EUR Acc7.27 EUR2.08
Next PLC6,110.00 GBP0.00

About Author

James Gard  is content editor for Morningstar.co.uk

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