Next full price sales in the third quarter were up 7.6 percent versus last year, 2.6 percent ahead of the company’s guidance of 5 percent growth.
The company attributed the strong performance to the early arrival of colder weather this year, versus an unusually warm September and early October last year.
Next is increasing guidance for the fourth quarter full price sales growth by 1 percent to 3.5 percent.
The company said that the improved sales in the third quarter along with the forecast for the fourth quarter add 43 million pounds to full price sales and 10 million pounds to profit. Accordingly, profit guidance for the full year has been raised from 995 million pounds to 1,005 million pounds.
Total group sales for the full year are expected to be up 7.4 percent on last year, which is 2.5 percent higher than the expected growth in full price sales of 4.9 percent.
Next further said that the difference is the result of acquisition of 97 percent stake in FatFace in October 2023 and increase in equity share in Reiss in September 2023 and June 2024. Next now holds a 74 percent shareholding in Reiss.
