Jan 3, 2019

Next online sales jump as stores suffer

Next has reported a sharp rise in online sales over the Christmas period, while trading at its stores declined. In a continuation of recent trends, its online sales rose 15.2% in the period from 28 October to 29 December compared with a year earlier. By contrast, sales at its stores fell 9.2%. Next said strong sales during the three weeks prior to Christmas and good sales during half-term in October had made up for "Disappointing" sales in November. The retailer expects an annual profit of £723m, slightly lower than its previous forecast of £727m. It blamed the lower forecast on strong sales of less profitable items including beauty products and personalised gifts.

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