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Next sales up despite bad weather

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Sales are up at Next despite the fashion chain being hit by the unseasonably cold weather earlier this year, the group revealed today. The Enderby company saw total sales rise by 2.2 per cent in the 14 weeks to May 4. The trading performance once again highlighted a clear contrast between the group's high street and online operations, with income from its 530 stores falling by 1.9 per cent, while online sales were up 8.9 per cent. A statement said: "It is apparent that the poor March figures were down to an abnormally cold spring, equally the good weeks since mid April have been boosted by pent up demand from the previous month. We believe that neither period is indicative of any significant change in the underlying economy. "The overall number of 2.2 per cent is the best guide for future performance and we remain cautious about the consumer environment. "We anticipate that the continuing decline in real earnings will depress discretionary spending for at least the next 18 months, if not longer." Next said it remained confident pre-tax profit for the year to January 31, 2014 will be between £615 million and £665 million. Last year, company's pre-tax profits were up 9 per cent to £621.6 million, on total sales of £3.5 billion – an increase of 3 per cent. Next's shares rose by 2.5 per cent in early trading, breaking the £45 barrier for the first time in the firm's 31-year history.

Next sales up despite bad weather


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