Jan 3, 2018
Festive joy for Next as sales jump
Sales at Next have unexpectedly risen over the Christmas period, prompting the fashion retailer to raise its profit forecast. Cold weather boosted trade ahead of Christmas, sending full-price sales up 1.5% - far better than the 0.3% fall it had expected. A 13.6% rise in online sales offset a 6.1% decline in store sales in the 54 days to 24 December. Richard Lim of Retail Economics said the figures highlight the shift towards online spending from the high street. The fashion clothing market was becoming more competitive because of nimble online players, a prolonged period of sales kicked off by Black Friday and an increase in operating costs, Mr Lim added.
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