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Next first half sales rise 4.5% Wednesday, 1st August 2012
Photo credit: Next plc
Total sales at the clothing retailer rose 4.5 per cent, excluding VAT sales tax in the six months to 28 July.
Next managed to beat its target for the first half thanks to a strong performance from its Directory catalogue and online business as customers chose to shop from home instead of braving the unpredictable summer weather.
First half retail sales rose 0.2 per cent for the business, versus guidance of flat to down 3 per cent, while Directory sales rose 13.3 per cent compared with a guidance of up 9-12 per cent.
As Britain’s second largest clothing retailer behind Marks & Spencer, Next said it is now forecasting total sales growth in 2012-2013 of 2-4.5 per cent and group profit before tax of £575 million- £620 million, up from a previous expectation of £560 million- £610 million.