Measuring up: Next store sales on rise

Trading 'remained volatile', says Next. Picture: Contributed
Trading 'remained volatile', says Next. Picture: Contributed
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Store sales at Next have returned to growth after a weather-hit slump earlier in the year, the high street stalwart revealed yesterday.

Shares jumped 4.7 per cent to 5,450p as the fashion chain also lifted its profits forecast for the year amid a stronger-than-expected improvement in performance.

But it cautioned that trading “remained volatile” throughout the latest period.

Sales in the third quarter to 26 October were up 4.3 per cent, just above the top end of an improvement of 1 per cent to 4 per cent expected for the second half.

The figures included a 10.7 per cent increase in the Next Directory catalogue and online division.

Retail stores managed to increase revenues by 0.4 per cent – despite a stock blunder following the summer heatwave that left Next short of warm weather fashions in August.

The rise comes after sales fell 0.9 per cent for the first half to the end of July, which included a dip during a period of freezing spring weather.

Overall sales were up 3 per cent for the year to date, including 1.9 per cent from store openings.