May 6, 2021

Next expects post-lockdown sales surge to be short-lived

Fashion chains Next and Superdry have both seen a surge in sales after stores reopened in April after Covid closures. Next has raised its full-year profit forecast, but added that previous experience suggested the post-lockdown sales surge would be "Short-lived". Full price sales were down 1.5% compared with the same period in 2019, compared with Next's forecast of a 10% drop. Next retail sales dropped by 76% after its stores were closed for the first 10 weeks of the quarter, but online sales jumped by 65%. However, Next said that it was not simply the case that sales lost in stores were transferred online. Instead, the online sales boost came from the a mixture of homeware sales, third-party brands and overseas sales.

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