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30 Oct 2019 | 09:03

Next sales up 2% in third quarter; sticks to annual guidance

Clothing retailer Next reported a 2% rise in full-price sales over the third quarter and stuck to its annual profit guidance.

Retail sales over the three months through September fell 6.3%, while online sales rose 9.7%.

Product full-price sales rose 1.6% and the company also benefited from 7.0% growth in finance interest income.

Next said it still expected to post annual full-price sales growth of 3.6% and a full-year pre-tax profit of £725m.

Sales in September were adversely affected by unusually warm weather, but Next said it saw a significant improvement in October when temperatures fell.

'We believe the improved sales growth in October recouped some of the lost sales in September and we do not expect sales growth for the rest of the year to be as strong as October,' it added.

At 9:03am: (LON:NXT) Next PLC share price was -204p at 6646p

Story provided by StockMarketWire.com
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