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

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Marcel Alberts
Eurofibers

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Judy Frater
Somaiya Kala Vidya

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

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

January 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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