Oct 31, 2018
Opening Quote: Next online sales slow but are on the right road
This morning the focus is likely to be on how Next's credit business is keeping its performance on the right road. Retail full price sales declined by a faster than usual 8 per cent in the third quarter and are now down 6.3 per cent in the year-to-date. Online sales were up less rapidly than before, by 12.7 per cent in the quarter, and are now up 14.8 per cent year-to-date. Q3 product full price sales +1.3 per cent. UBS had forecast full price sales growth of 2 per cent in the third quarter. OQ verdict: Next's success in having online sales offset declining store sales may cause some to worry about any apparent slowdown on the web: online sales rose almost 17 per cent in the first half of the year.
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