Sales were up 5.7% in the nine weeks to 30 December, 2023 – £38 million better than the retailer’s previous guidance of +2% for the period.
Next has increased it full year profit before tax guidance by £20 million to £905 million, up 4% versus last year. £17 million came from the sales beat to date, and £3 million comes from an upgraded forecast for full price sales in January.
Guidance for full price sales in the year ahead, is expected to be up 2.5%. After accounting for the effect of recent acquisitions, group sales, including subsidiary companies, are expected to be up by 6%. Guidance for profit before tax for the year ahead is expected to be up 5%.
Online sales fared particularly well in Q4, with full price sales up 9.1% year-on-year, while retail sales increased 0.6% for the same period. In the statement, Next said the performance in both retail and online was ahead of its expectations.
