Next says sales ‘more resilient than expected’


Next in Cardiff WalesImage copyright
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High Street fashion chain Next saw sales fall 34% as it bore the brunt of coronavirus, with wedding outfits and work clothes particularly badly hit.

However, business had proven “more resilient than we expected”, the firm said.

Pre-tax profit was £9m for first half of the year.

Next said it was fortunate that half of its revenues were already coming from online sales before the onset of the pandemic.

It also said sales held up better at Next’s out-of-town outlets, which customers can drive to more easily.

Home, children’s wear, loungewear and sportswear sales did well.

Next has revised its profit forecast for the full year from £195m to £300m.

“From a business perspective, the pandemic has been hugely expensive and disruptive,” the firm said.



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