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

Online drives Next growth, despite falling store sales

Linked InTwitterFacebookeCard
Online drives Next growth, despite falling store sales
Online drives Next growth, despite falling store sales
Online growth helped Next to post a sales rise in the first half of its financial year, despite falling store sales.

Sales from the directory arm of the fashion retailer’s business, which sells primarily over the internet, rose by 8.3% in the 26 weeks to July 27, the company said in a trading statement today. At the same time, store sales fell by 0.9%, taking Next brand sales to an overall rise of 2.3%. Sales from new store space grew by 1.8% over the period.

Separating out the part of the period that ran up to the beginning of its sales on July 12, directory sales grew by 9.9% while store sales remained flat. Overall Next brand sales grew by 3.7%.

There was evidence, said Next, that consumers were becoming more spontaneous in the way they buy. “As a result,” it said, “weekly sales are more affected by short-term events such as a change in the weather, the timing of Bank Holidays and school holidays.” While it did not expect this to hit overall spending, it did mean that short-term consumer trends were harder to read.

Next said higher full-price sales and lower markdown had added £10m to first-half profits and it now predicted that full-year pre-tax profits were likely to come in at between £635m and £675m, between 2.2% and 8.6% up on the same time last year.

Linked InTwitterFacebookeCard
Add New Comment
LoginRegister

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