- Full-price online sales rose 10%
- Total second-quarter full-price sales rose 6.9%
- Full-year pre-tax profit guidance upgraded by £10m to £845m
Aarin Chiekrie, equity analyst at Hargreaves Lansdown:
“Next has got into a habit of beating market expectations on the upside lately, and today’s second-quarter trading statement continued the hot streak. Full-year pre-tax profit guidance got another bump up today, now expected to come in £10m higher at £845m. Online sales were the main driver of this upgrade, with sales in this channel growing at double-digit rates.
End-of-season sales were ahead of group expectations in the period, adding to the positive tailwinds that Next seems to be catching lately. The group still has a strong high street presence too, with sales here also heading in the right direction. Next’s certainly weathering the storm of economic uncertainty admirably, and looks well-placed to prosper further when the cycle turns.“
For access to stock reports and articles please visit the Hargreaves Lansdown share research homepage or sign up to our updates here.
