Home / Knowledge / News / Apparel/Garments / Fashion retailer Next hikes 2015 PBT guidance by £25mn
Fashion retailer Next hikes 2015 PBT guidance by £25mn
29
Jul '14
As a result of the better than expected first half performance, UK-based fashion retailer, Next plc has raised its profit guidance by £25 million. 
 
This was revealed in the latest trading statement for 26 weeks to July 29 released by Next plc today. 
 
Next Brand sales for the first half of the financial year were up 10.7 percent, of which 2.4 percent came from opening of profitable new space. In the same period, Next Retail sales were up 7.5 percent and Next Directory was up 16.2%. 
 
For the full fiscal year to January 2015, Next has revised the lower guidance range for total brand sales from 5.5 percent to 7 percent and has upped the upper range by 0.5 percent to 10 percent.
 
Next has also revised the PBT lower and upper guidance, in hiking it by £25 million to £775 million and £815 million, respectively. 
 
The lower and upper guidance for EPS has also been raised by 4 percent to 12 and 18 percent, respectively for the full fiscal year 2015. 
 
The statement said, “Sales are currently ahead of the 5.5% - 9.5% full year growth guidance we gave in April. We are therefore raising and narrowing our sales guidance range for the year to 7% - 10%.”
 
The statement added, “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.” 
 

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: ITMA 2015

Textiles | On 21st Jun 2018

Italy to host textile machinery fair ITMA in 2023

ITMA, the trendsetting textile and garment technology platform, will...

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

NRF urges US Congress to step in, stop trade war

Apparel/Garments | On 21st Jun 2018

NRF urges US Congress to step in, stop trade war

The National Retail Federation (NRF) recently urged the US Congress...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Sonia Agarwal
Whitenife

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

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Mohammad Hassan
Biax Fiberfilm

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marcel Alberts
Eurofibers

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

Mike Hoffman
Gildan Activewear SRL

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search