1. Market Data
July 31, 2014

Clothing retailer Next sales up in Q2

UK-based clothing retailer Next witnessed higher NEXT Brand sales in the second quarter, with improved performance in Retail and Directory divisions.

UK-based clothing retailer Next witnessed higher NEXT Brand sales in the second quarter, with improved performance in Retail and Directory divisions.

NEXT Retail sales climbed 6.4% and NEXT Directory sales were up 18.8%.

For the first half, NEXT brand sales grew 10.7%, with 2.4% coming from the sales from new space. NEXT Retail sales went up 7.5% and NEXT Directory 16.2%.

Further, the company noted that its sales are currently ahead of the 5.5% – 9.5% full year growth guidance that was given in April.

"It might appear overly cautious to forecast a full year sales range which is below our current rate of growth. However, last year’s first two quarters were hampered by a particularly cold Spring and Easter which presented a soft comparison for this year," the company said in its statement.

Next is a specialty retailer which offers apparel for men, women and kids, lifestyle accessories, footwear, flowers, home décor, garden and outdoor products, wine, gifts and electrical equipments.

All these products are sold under more than 200 national brands and private label brands including Next and Lipsy.

As of July 2013, the company operated more than 540 stores in the UK and over 200 franchised stores internationally.