Home / Knowledge / News / Apparel/Garments / Most of the key trends are well represented, Next
Most of the key trends are well represented, Next
17
Sep '10
Next plc announced result for the half year ended July 2010.

Next has delivered a robust set of results in trading conditions that remain testing. Group sales for the first half were up 5%. Costs and margins have been managed carefully and as a result profits in the first half grew by more than sales, up 15% on last year.

Earnings per share (our key measure of financial success) have been enhanced through cash generation and share buybacks, resulting in EPS growth of 24%. We have increased the Interim dividend by 6p to 25p. Financial highlights are as follows:

• Group revenues increased 5% to £1,587m
• Group profit before tax increased 15% to £213m
• Earnings per share rose 24% to 84.5p
• Cash inflow of £63m, before share buyback outflows of £157m
• Net debt of £494m and ample debt facilities of £800m
• Interim dividend increased by 6p to 25p

Chief Executive's ReviewHeadlines

• Sales up 5%
• Profit up 15%
• Earnings per share up 24%
• Dividend up 6p to 25p

Progress: Sales, Profit and Earnings per Share
Next has delivered a robust set of results in trading conditions that remain testinfg. Group sales were up 5%. The continued addition of profitable new space in Next Retail and an excellent performance from the Next Directory more than compensated for retail like for like sales.

Costs and margins have been managed carefully and as a result profit in the first half grew by more than sales, up 15% on last year. Earnings per share (our key measure of financial success) have been enhanced through cash generation and share buybacks, resulting in EPS growth of 24%. We have increased the Interim dividend, by 6p to 25p.

Product

We remain confident that all our ranges reflect the latest trends and remain good value for money. In particular we have been encouraged by the development of our ranges for Children and Home, which now account for around 40% of Next Brand sales.

We are more confident than we have been for some time with the fashion content of our Womenswear ranges, and believe that most of the key trends are well represented. Going forward, there is more we can do to maximise the potential of best selling lines, with more colourways and greater depth of buy on these items.

Retail

Retail Sales
Retail VAT exclusive sales in the first half were up 2.2% on last year. Last year was a 53 week year and as a result the first half started one week later than last year. This timing difference added 0.9% to our underlying sales growth.

As set out in our previous trading statement, like for like sales for the first half were -1.5% (against the directly comparable period last year). Like for like sales have become a little confusing as a measure of performance. Ours would be enhanced by more than 3% if, as is the case with many retailers, they included direct sales. In addition, the increase in VAT means that our reported like for like sales are around 1.4% less than the amount customers actually spent in our stores.


Must ReadView All

Courtesy: Pexels

Textiles | On 27th Apr 2018

AWEX EMI sets new all-time record; touches 1847ac per kg

In the week ending April 27, 2018, the Eastern Market Indicator (EMI) ...

Indian exporters lobby FIEO urges lifting of ban on LoUs

Textiles | On 27th Apr 2018

Indian exporters lobby FIEO urges lifting of ban on LoUs

India’s exporters lobby Federation of Indian Export Organisations...

US GSP extension restored on 22 Apr, refunds not automatic

Apparel/Garments | On 27th Apr 2018

US GSP extension restored on 22 Apr, refunds not automatic

The US generalized system of preferences (GSP) programme was restored ...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Ravindra Jain, Ashish Baid

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

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Rikesh Mistry

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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


April 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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
7.8%
Skip
9.7%

Total Votes: 103


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