Home / Knowledge / News / Apparel/Garments / Fashion retailer Next sales inch up 2.2% in H1 FY'13
Fashion retailer Next sales inch up 2.2% in H1 FY'13
12
Sep '13
Sales for the half year ending 27 July 2013 were 2.2% ahead of last year. This was near the mid-point of the guidance range we issued in March. The increase was driven by a combination of additional Next Retail selling space and increased online sales through the Next Directory. New selling space added 1.8% to total NEXT brand sales.
 
Operating profits were at the top end of our expectations, up 7.2%. The difference between profit and sales growth is largely explained by the differing performance of our full price business and markdown sales. Next brand full price sales were up 3.9%. 
 
Next went into sale with 18% less stock than last year and markdown sales were consequently 13% down on last year. The combined effect of better full price sales, lower unprofitable markdown sales and good cost control, meant that operating margins improved in both retail and directory.
 
Next’s key financial objective is to deliver sustainable long term growth in earnings per share. To this end, the company continued to use surplus cash to buy back shares and in doing so we enhanced EPS by a further 6%. 
 
Pre-tax earnings per share were up 14.0%. A lower tax rate further enhanced post-tax EPS, which were up 19.9%.
 
 

Next Group PLC

Must ReadView All

Courtesy: Ikea

Textiles | On 26th Apr 2017

Ikea’s product sourcing from India to double by 2020

Ikea, the global home furnishing giant from Sweden, plans to double...

Textiles | On 26th Apr 2017

CITA to add insufficiently available fabric in CAFTA-DR

The Committee for the Implementation of Textile Agreements (CITA) has ...

Courtesy: SKF

Textiles | On 26th Apr 2017

SKF brings predictive maintenance for machinery to India

SKF India, a global supplier of bearings, seals, mechatronics,...

Interviews View All

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search