Next in-store sales fall but profit expectations remain unchanged

Next Basingstoke

Next has reported a fall in full-price sales from stores but saw a big upturn in online sales in its third quarter, ensuring that its profit expectations for the year remain unchanged.

For the third quarter up to October 30, Next reported a 6.3% fall in retail sales compared to a 9.7% upturn in online sales. Compared year on year, retail sales were down 4.8%, while online sales rose by 11.1%.

The retailer reported a 7% increase in finance interest income, and 2% uptick in total full price sales, including interest.

Next said its estimated full year 2020 profit before tax remains £725m, a 0.3% increase on 2018/19 full year profits.

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