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Next Share Price Holds Ground After Raising Full-Year Profit Guidance

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Nigel F

Shares of Next PLC (LON: NXT) are trading nearly unchanged after the company’s higher-than-expected sales in the third quarter helped offset losses from the deteriorating risk sentiment.

The fashion retailer said it now expects full-year pre-tax profit to come at £365 million, higher from £300 million reported in September. Total sales jumped by 1.4% for the three months to October 24, pushed by full-price sales that grew 2.8% and online sales that grew more than 23%.

Following a strong quarter, net debt projection now stands at £625 million after being reported at over £1.1 billion.

“The sales performance by product category remains very similar to the second quarter, with home and childrenswear over-performing while demand for men’s and women’s formal and occasion clothing remains weak,” Next said in the statement.

“Online sales remain strong, both in the UK and overseas. In retail, out of town retail parks continue to perform better than high streets and shopping centres.”

Next share price trades almost unchanged on the day October 2020

Next share price now trades at 6110p, or 0.33% positive on the day.

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Nigel F
Nigel F
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Nigels tiefes Verständnis der Finanzmärkte basiert auf über 10 Jahren Erfahrung. Nigel wurde bisher zweimal von der FCA (Financial Conduct Authority) autorisiert und hat in der letzten Zeit eine Finanz-Brokerage Firma besessen und verkauft. Er liefert hochaktuelle Analysen und Einsichten in die Finanzmärkte und in die allgemeine Wirtschafts- und Währungspolitik des Vereinigten Königreichs, der USA, Europas und Asiens.