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

Textiles | On 15th Jan 2021

US detains cotton products from China's XUAR from Jan 13

US Customs and Border Protection (CBP) recently announced it will...

Pic: Christopher & Banks Corporation

Retail | On 15th Jan 2021

CBKC in US voluntarily files for bankruptcy protection

US specialty women's apparel retailer Christopher & Banks Corporation ...

Pic: Shutterstock

Textiles | On 15th Jan 2021

Hanoi to allocate more than $41 million to support SMEs

Hanoi will allocate VND957 billion (more than $41 million) to assist...

Interviews View All

Amrit Sethia, SOIE

Amrit Sethia

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Smith Vaghasia, Sanado India

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Karan Toshniwal, Orange O Tec

Karan Toshniwal
Orange O Tec

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

Anupam Arya,

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Rushiraj Mulani,

Rushiraj Mulani

The Shradhdha Group of companies was established in 2010 and is based out...

Dr. Vijaya Kumar,

Dr. Vijaya Kumar

Dr MM Kariappa founded the Vogue Institute of Art &amp; Design in 1996....

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

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

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

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

January 2021

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

Advanced Search