Sep 17, 2020
City Bulletin: Retail bellwether Next upgrades profit guidance yet again
High street bellwether Next upgraded its profit guidance yet again, after sales proved more resilient than first expected. Next isn't counting on that continuing - cooler weather and staycationing have helped - but it does reckon full price sales for the rest of the year will only be 12 per cent below last year. Ticket sales between June and August were 30 per cent of last year's levels, Trainline said on Thursday, up from 9 per cent in the previous three months. The group, which is dual-listed in Paris, said its sales were up more than 900 per cent year-on-year to €72.4m and reported ebitda of €49.4m. Its order pipeline means performance in the second half of the year should be even better than the first, Novacyt said. Starbucks' European division paid $175m in dividends to its US parent company last year, despite recording a 99 per cent fall in pre-tax profit as it spent heavily on developing more takeaway and drive-through services.
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