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Next Q2 sales drop 28 per cent


The second quarter full-price sales of retailer Next declined by a 28 percent. According to the company, this is better than expected result as it allows it to forecast full-year profit of about £195 million ($252 million).

The company’s warehouse capacity has been restored faster than planned and store sales have been more robust than anticipated. Its online sales too bounced as warehouse capacity picked up and dispatch capacity returned to normal levels. The company’s sales improved by 9 percent from the same period a year ago while like-for-like sales in its stores declined by 72 percent for the quarter to July 25, and by 32 percent since June 15.

The company recorded improved sales in children’s wear, home, nightwear and sportswear and casual categories while sales in formal categories declined.