The company beat its full-price sales estimates by £93 million in the period. Consequently, the company has increased its full-year sales guidance by £137 million and raised its profit guidance for the full year by £40 million to £835 million, Next said in a press release.
UK-based retailer Next’s sales rose 9.3 per cent year-over-year (YoY) in the first seven weeks of the second quarter, beating its forecast of a 5 per cent decline.
The company beat its full-price sales estimates by £93 million in the period.
Next upgraded its full-year sales guidance by £137 million.
The company estimates a profit of £835 million.
The company reported a slight decline in Q1, with sales down 0.7 per cent, but rebounded significantly in Q2. The full year guidance has been revised from a decrease of 1.5 per cent to an increase of 1.4 per cent, reflecting an overall optimistic perspective for the rest of the year.
Fibre2Fashion News Desk (DP)