ao link
Twitter
Facebook
Linked In
RSS
Login or Register
New to InternetRetailing?
Register Now
Internet Retailing
You are in: > Home > Themes

This is your 1 complimentary article for this month

Become a member for unlimited and immediate access.


Register
Already a member? Log in here

Next sales ‘materially ahead’ of expectations, as online grows 56%

Linked InTwitterFacebookeCard
Next: realising pent-up demand
Next: realising pent-up demand
Sharelines

Next sees sales of third party items and homewares take its onlune sales to new heights

Next says that its sales for the past 11 weeks are “materially ahead of expectations”, with total online sales across the company growing 56% in the first half of 2021.

 

Total sales across the group rose 18.6% against 2019 in Q2 and are way ahead of the fashion retailer’s 3% prediction.

 

Online, the retailer saw sales rise 47% across H1 21, with 63% growth in Q1 and 28% in Q2. Its online Label UK saw sales up 68% across the half, while overseas online sales rose 64%. In total, online sales were up 56% in the half.

 

As a result, the retailer is increasing its central guidance for full year profit before tax by +£30m to £750m. The company has also increased its full price sales guidance for the rest of the year from 3% to 6% and has also decided to repay £29m of business rates relief to the government.

 

Next believes that pent-up demand for summer clothing has helped drive the surge in sales, offset by slowing shopping during the hot spell in late-May and early-June. The trend for ‘staycationing’ and ‘no-cationing’ has also increased consumer spending, says the retailer.

 

The biggest winners were in Next-branded homewares, which saw 25% growth in H1, and in sales of third party brands which rose 66%. Conversely, Next-branded adult clothing dropped 27%. Overseas, online sales of all Next items rose 64% in the half.

Linked InTwitterFacebookeCard
Add New Comment
You must be logged in to comment.

The InternetRetailing Newsletter

A curated update containing news analysis, reports, podcasts and opinion - completely free and delivered three times weekly

Become a Member

Create your own public-facing profile
Gain access to all Top500 research
Personalise your experience on IR.net
Internet Retailing
We are the magazine, portal and research source for European ecommerce and multichannel retail, hosting the board-level conversation for retailers, pureplays and brands across all of our platforms. Join the conversation.

© InternetRetailing Media

Latest Tweet

Internet Retailing
Tamebay
eDelivery
Twitter
Facebook
Linked In
Youtube
RSS
RSS
Youtube
Google
Linked In
Facebook
Twitter