A bigger than expected rise in third quarter sales revenue has prompted Britain’s second largest clothing retailer, Next to raise its full-year profit guidance as a recovering economy pushes up consumer spending.
A bigger than expected rise in third quarter sales revenue has prompted Britain's second largest clothing retailer, Next to raise its full-year profit#
Sales of the Next Brand rose 4.3 per cent in the third quarter ended October 26, 2013 even as it underlined volatility in trading throughout the period.
A bigger than expected rise in third quarter sales revenue has prompted Britain's second largest clothing retailer, Next to raise its full-year profit#
Next, which has more than 500 stores in Britain and Ireland, had posted a sales growth of 2.3 per cent in the first half of 2013-14 while last quarter’s sales growth also surpassed the company’s guidance of 1 - 4 per cent for the second half of its current financial year.
A bigger than expected rise in third quarter sales revenue has prompted Britain's second largest clothing retailer, Next to raise its full-year profit#
The clothing retailer expects to earn a pre-tax profit of 650 to 680 million pounds in the full-year ended January 2014, up from a previous guidance of 635 to 675 million pounds.
A bigger than expected rise in third quarter sales revenue has prompted Britain's second largest clothing retailer, Next to raise its full-year profit#
Strong online offerings, new store openings and robust expansion in overseas markets have helped Next tide over challenging macro-economic conditions.
A bigger than expected rise in third quarter sales revenue has prompted Britain's second largest clothing retailer, Next to raise its full-year profit#
Next will benefit from the improving outlook for consumer spending in the UK but the pace of spending may be limited as inflation outpaces wage rises.
A bigger than expected rise in third quarter sales revenue has prompted Britain's second largest clothing retailer, Next to raise its full-year profit#
The company has raised its estimate for 2013-14 sales revenue growth to 2-3.75 per cent from 1.5-3.5 per cent forecasted earlier.
A bigger than expected rise in third quarter sales revenue has prompted Britain's second largest clothing retailer, Next to raise its full-year profit#
Next expects a 15-21 per cent growth in its earnings per share in 2013-14, up from a previous guidance of 12 -19 per cent. The company expects its EPS to be enhanced by share buybacks of at least 300 million pounds.
A bigger than expected rise in third quarter sales revenue has prompted Britain's second largest clothing retailer, Next to raise its full-year profit#
With the holiday shopping season round the corner, Next will be banking on its heavy advertising campaign for its all new winter collection to deliver a sales boost. The company has roped in supermodel Kendra Spears for showcasing its new collection.
A bigger than expected rise in third quarter sales revenue has prompted Britain's second largest clothing retailer, Next to raise its full-year profit#
Fibre2fashion News Desk - India
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