Analysis: How Next’s Total Platform is ‘following the money’ online
Bellwether retailer Next unveiled its full-year results today, confirming that online is doing better than ever and providing more information on its latest etail venture.
The fashion giant raised its full-year profit guidance for the new financial year, despite a 53% drop in pre-tax profits to £342m in the year just completed.
While store sales tumbled 48% to £954.5m last year, Next said that online sales grew 10% to £2.37bn.
In the first eight weeks of this financial year, Next added that online sales have been “stronger than expected” – up more than 60% compared with two years ago.
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