Home / Knowledge / News / Apparel/Garments / Next eyes strong end to 2013-14 amid robust Q3 revenue
Next eyes strong end to 2013-14 amid robust Q3 revenue
21
Nov '13
A bigger than expected rise in third quarter sales revenue has prompted Britain’s second largest clothing retailer, Next to raise its full-year profit guidance as a recovering economy pushes up consumer spending.
 
Sales of the Next Brand rose 4.3 per cent in the third quarter ended October 26, 2013 even as it underlined volatility in trading throughout the period.
 
Next, which has more than 500 stores in Britain and Ireland, had posted a sales growth of 2.3 per cent in the first half of 2013-14 while last quarter’s sales growth also surpassed the company’s guidance of 1 - 4 per cent for the second half of its current financial year.
 
The clothing retailer expects to earn a pre-tax profit of 650 to 680 million pounds in the full-year ended January 2014, up from a previous guidance of 635 to 675 million pounds.
 
Strong online offerings, new store openings and robust expansion in overseas markets have helped Next tide over challenging macro-economic conditions.
 
Next will benefit from the improving outlook for consumer spending in the UK but the pace of spending may be limited as inflation outpaces wage rises.
 
The company has raised its estimate for 2013-14 sales revenue growth to 2-3.75 per cent from 1.5-3.5 per cent forecasted earlier.
 
Next expects a 15-21 per cent growth in its earnings per share in 2013-14, up from a previous guidance of 12 -19 per cent. The company expects its EPS to be enhanced by share buybacks of at least 300 million pounds.
 
With the holiday shopping season round the corner, Next will be banking on its heavy advertising campaign for its all new winter collection to deliver a sales boost. The company has roped in supermodel Kendra Spears for showcasing its new collection.
 

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 29th May 2017

Christopher & Banks Corporation Q1 2017 sales down 11.5%

The net sales of Christopher & Banks Corporation for the first...

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marten Alkhagen
Swerea IVF AB

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Judy Frater
Somaiya Kala Vidya

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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:
May 2017

May 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