Next cautious on 2012
Fashion chain Next said the strong performance of its Directory unit continues to compensate for the slightly disappointing trading at its Retail stores.
Fashion chain Next said the strong performance of its Directory unit continues to compensate for the slightly disappointing trading at its Retail stores.
Interestingly the firm says its post-Christmas sale period has gone well with final clearance rates slightly ahead of 2010. This will give investors some heart about the retailing sector.
However, Next also makes clear that "despite a good final week before Christmas, November and December sales were disappointing".
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The Retail unit saw sales (excluding VAT) fall 2.7% in the period from August 1st to December 24th versus the corresponding period the year before, while Directory sales improved by 16.9%.
Sales for the Next brand overall rose 3.1%, in line with the full year guidance range given in November of between 2.5% and 4.0%.
Next expects its full year profit before tax figure to come in "£7m either side of £565m", representing an increase of 4% on the prior year and an earnings per share increase of 11.3% after buy backs.
In 2012 Next is cautious, saying it expects "profit before tax only slightly up on this year". The group expects to make £200m in surplus cash which will be returned to shareholders through share buy backs.
Full year results will be released on March 22nd.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
What is the 25x retirement rule and does it work?
The 25x retirement rule has been around for decades but many experts question if it is a suitable strategy
-
When is the self-assessment tax return deadline?
If you are self-employed, rent out a property or earn income from savings or investments, you may need to complete a self-assessment tax return. We run through the deadlines you need to know about