Next reports marginal increase in overall sales |
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Published
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Thu, 04 Jan 2007 13:26
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LONDON: High street clothing retailer Next said its overall sales rose 2.8 per cent in the last five months of 2006, but like-for-like store sales fell 7.5 per cent.
The company's directory, catalogue and internet division outperformed the retail division during the period. While sales at the former went up 9.3 per cent, overall sales at the retail division rose by 0.8 per cent.
Next said it expects to have a pre-tax profit between 463 million pounds and 473 million pounds for the whole year. Operating profits are expected to be between 5.1 per cent and 7.2 percent up, which will mean earnings per share, boosted by the group’s share buyback policy, would increase by between 11 per cent and 13.4 per cent.
The company said the first half of 2007 is going to be tough as times are bad for the U.K. high street in general.
Next is expected come out with financial results for the 52 weeks ending 27 January on 22 March. .
A company spokesperson said approximately 50 per cent of Next Directory sales are made online and the proportion is increasing “at a fair rate”. The online turnover of the company is estimated to be around 500 million.
Next's shares were up eight pence or 0.43 per cent to 1855 pence.
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High street sees no sunshine despite good weather 