All Next articles – Page 55
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NewsInterest rate held at 0.5 per cent
The interest rate has been held at 0.5 per cent by the Bank of England.This is the second month in a row that the Bank of England has held the interest rate after it consecutively cut the rate to a record low over a six-month period to try and stimulate ...
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NewsNext reports solid first quarter
Next has benefitted from a late Easter and warm weather with a better than expected first quarter.Total retail sales were up 1.1 per cent in the 14 weeks to May 2 with like for likes down 2.3 per cent, well ahead of Next’s estimates of between -6 and -9 per ...
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GalleryNext in line
Next has made another leap forward with its latest store revamp at Oxford Circus. John Ryan finds out more about the new format
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NewsNext leads share rally in retail sector
Next led a share rally in the retail sector last night as Citigroup said that share prices in the sector had bottomed out and that it was time to “relight the fire”.
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AnalysisService charges: Lip service to retailers or a plan of action?
The 10-point plan to reduce service charges announced last week promised action on an issue that has long infuriated retailers. Ben Cooper investigates how it is going to work in practice
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NewsBrokers cut forecasts over concern for Next
Two big brokers have issued bearish notes on Next, fuelled by concerns ranging from the impact of price rises to management continuity and strategy.ING initiated coverage last week with a sell note, just days after Credit Suisse cut its forecasts.Discretionary demand for mid-market clothing and gross margin pressure were among ...
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NewsM&S loses market share in clothing
Marks & Spencer is losing market share in clothing as the battle to win customers continues to intensify, particularly in the middle market.Data from market research company FashionTrak showed that M&S lost 12 basis points of market share in February, the Telegraph reported. Marks & Spencer’s womenswear ranges lost the ...
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News
‘Stupendous’ week for general retail stocks
General retailers staged a “stupendous run” last week, broker Numis observed, buoyed by better than expected Marks & Spencer numbers.
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OpinionMothercare is all grown up
Mothercare appears to have its corner of the retail sector all sewn up.Today, the maternity and baby specialist unveiled a stellar set of results, with UK sales ahead of expectations and international sales soaring.It is a repeat story for the retailer that rarely puts a baby step out of place.Admittedly, ...
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OpinionCautious Next sets the standard
Next chief executive Simon Wolfson was his usual cautious self last week, revealing to the City that the fashion retailer would be “sticking to the knitting”.His approach pleased analysts, and one even believes that Next is among the best-managed companies in the sector.Wolfson is right to be cautious. Among the ...
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News
Westfield falls short of Next’s expectations
Next chief executive Simon Wolfson said that its Westfield London shop has so far performed below expectations and that the scheme has had less of an impact on its West End shops than it anticipated.Wolfson said Next, which this week reported like-for-like sales down 6.5 per cent in the full ...
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NewsM&S rounds off good week for retail stocks
Marks & Spencer spearheaded an advance by retail shares on Tuesday, when its fourth-quarter numbers defied downbeat expectations.The retail sector rose 6 per cent on the day, when there was also the successful refinancing of Clinton Cards and placings of Debenhams and Sainsbury’s shares. Improving sentiment towards retailers helped the ...
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OpinionJJB Sports: a game of two halves
All is fair in retail and football. Or not, it seems, if you are old sparring partners Dave Whelan and Mike Ashley in their battle for control over JJB Sports.
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Next will not discount, despite 14 per cent profit slump
Next has reported a 14 per cent slump in pre-tax profits to 428.8m in its year-end results, but vowed not to change its Sales strategy in line with the rest of the high street.
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News
Next refuses to pay all of Westfield's service charges
Fashion retailer Next is refusing to pay part of its service charge at Westfield London after the property developer increased its fees within days of the shopping centre opening.
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AnalysisStore design: a little goes a very long way
Retailers are faced with some tough choices at the moment and retail design may well be low down on their list of priorities. But can they afford to do without it? John Ryan and Laura Lupton report
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Next ups fashion profile with online TV platform
Next has launched Next TV online to promote its fashion credentials to its web customers.
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Next carves out shop space for Lipsy brand
Next is to carve out space in its Manchester store to open a shop-in-shop for its recently acquired young-fashion brand Lipsy.
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Short selling on retail stock doubles
Short selling positions on retail shares have almost doubled between November and January, as investors bet on further misery for the sector.
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Next profit on course as Sale strategy pays
Next has stood firm on its discounting strategy and will be clear of much of its Sale stock by the end of this week, despite lengthy and deep price cuts by its competitors.