Next boss Lord Wolfson discusses why 2020 will be a groundhog year, how Black Friday didn’t kill the Boxing Day Sales and signs that the shift from stuff to experience may be easing.
Next is typically the first big retailer out of the blocks to update on Christmas trading and today all eyes were on the fashion giant for an industry read-across and insights from chief executive Lord Wolfson.
The retailer beat expectations following a better than expected performance in-store and online. Although shop sales were still down 3.9% during the three months to December 28, Next nudged up its full-year profit guidance by £2m. But what conclusions can the wider sector draw from Next’s performance?
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