Home / Knowledge / News / Retail / Next Plc FY19 sales grow 3.3% to £4,362 million

Next Plc FY19 sales grow 3.3% to £4,362 million

Mar '20
Pic: Next Plc
Pic: Next Plc
Next plc, a British multinational clothing, footwear and home products retailer, posted 3.3 per cent sales growth to £4,361.8 million in fiscal 2019 ended in January 2020 compared to £4,220.9 million in prior year. Operating profit rose to £1,640 million compared to £1,552.5 million prior year. Profit before tax was £728.5 million (FY18: £722.9 million).
The Next online platform delivered strong and profitable 11.9 per cent growth to £2,146.6 million (FY18: £1,918.8 million). Total UK online sales rose 8.9 per cent to £1,456 million. The company reported that the online sales were improved due to improved stock availability, achieved through  the faster processing of customer returns. Online sales were highest in Europe (34 per cent) and Middle East (45 per cent) region. 
Retail sales fell 5.3 per cent in the year to £1,851.9 million (FY18: £1,955.1 million). Company reported that retail sales were improved by better shop floor stock availability. During the year Next increased the  frequency of deliveries at a cost of £1 million.  
“Our priority is to do all we can to keep our workplaces and shops as safe as possible for customers and  staff. At the same time we must prepare the business for varying levels of sales declines. To that end we have modelled the effects of differing levels of sales declines along with all the measures we can take to ensure that the company remains within its bond and bank facilities,” chief executive Lord Simon Wolfson, said in a press release while reviewing Corona virus impact.
The company in it's outlook for fiscal 2021 expects sales to increase 3 per cent and group profit before tax to be around £734 million.

Fibre2Fashion News Desk (JL)

Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 30th Mar 2020

Cambodian garment workers face layoffs due to COVID-19

Thousands of Cambodian garment workers have lost their jobs as global ...

Pic: Shutterstock

Apparel/Garments | On 30th Mar 2020

US, EU buyers tell Vietnamese firms to suspend delivery

Many US and European Union (EU) partners have sent notices to...

Pic: Salvatore Ferragamo

Fashion | On 30th Mar 2020

Salvatore Ferragamo posts FY19 revenue of €1,377 million

Salvatore Ferragamo, an Italian luxury goods company, posted 2.3 per...

Interviews View All

Nitin Bhatia, Trend Arrest

Nitin Bhatia
Trend Arrest

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

Veronique Lee, Modavanti

Veronique Lee

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

Kamlesh Vaghela, RK Textiles

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Deepprakash Agrawal,

Deepprakash Agrawal

Radhey Weaves is a Surat-based manufacturer of brocade fabrics. MD...

Mala Alwani,

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Sugandha Bhardwaj,

Sugandha Bhardwaj

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

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

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

Kerem Durdag, Biovation II LLC

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

March 2020

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

Advanced Search