Next has upgraded its full year guidance again, with the multichannel retailer close to delivering a profit of £1bn.
The high street stalwart revealed profits are set to reach £995mn for the year to the end of January. This is the second time in two months Next has upgraded its annual guidance, having increased the figure by £20mn to £980mn in August 2024.
Next has now added £15mn to its annual forecast. This is an increase of 8.4% on last year’s profits – as its first half pre-tax profit increased 7.1% to £453mn in the six months to July.
Next is ranked Elite in the RetailX UK Top500 2024, with a company profile highlighting that the retailer is prospering as a multichannel brand, selling its own Next clothing and homewares, both online and through more than 500 stores in the UK and Ireland. It also uses its infrastructure to sell on behalf of third-party brands.
Its Total Platform business enables it to operates a UK multichannel business of brands including Gap, Victoria’s Secret, Reiss and Joules, taking a financial stake in many of them.
Total group sales, which include subsidiaries such as FatFace and Reiss, increased 8% to £2.9bn and full price sales rose 4.4% to £2.36bn over the half.
Read the full Next profile, authored by Chloe Rigby, in the RetailX UK Top500 2024.
The full report provides a strategic overview of the UK retail sector; an interview with Sue Harries of Elite retailer Screwfix and profiles on Amazon, Ikea, Asda, Dunelm, Boden, Richer Sounds & Very.
Stay informed
Our editor carefully curates two newsletters a week filled with up-to-date news, analysis and research, click here to subscribe to the FREE newsletter sent straight to your inbox and why not follow us on LinkedIn to receive the latest updates on our research and analysis.
