Group property director Andrew Varley has reduced his shareholding in fashion retailer Next.
Varley raised nearly £183,000 from the sale of 8,879 shares. That leaves him with 61,008 shares in Next.
Varley is 58 years old and he joined Next in 1985 - three years after the first Next shop was opened.
Subscribe to 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 share disposal was announced just after Next said that it would report its full year figures on 25 March. On 5 January, Next upgraded its forecast full year profit range for the year to January 2010 to £490m-£500m. That includes £7m of additional profit from it being a 53 week period. Earnings per share are expected to be at least 15% higher.
Pre-Christmas trading was better than expected. The consumer environment was more stable than expected and Next believes that its improved product range also helped.
Top Director Buys
Dairy Farm International (Singapore) (DFI) Director name: Mr Ronald J FlotoAmount purchased: 24,300 @ $5.99 Value: $145,521
Sainsbury (J) (SBRY) Director name: Mr Michael Andrew CoupeAmount purchased: 9,327 @ 329.11p Value: £30,696
Baobab Resources (BAO) Director name: Mr Jeremy DowlerAmount purchased: 400,000 @ 7.12p Value: £28,480
Baobab Resources (BAO) Director name: Mr Jeremy DowlerAmount purchased: 150,000 @ 7.25p Value: £10,875
Top Director Sells
Next (NXT) Director name: Mr Andrew John VarleyAmount sold: 6,000 @ 2,059.00p Value: £123,540
Next (NXT) Director name: Mr Andrew John VarleyAmount sold: 2,879 @ 2,057.59p Value: £59,238
-
ScottishPower launches half-price electricity at weekendsNews ScottishPower is offering 50% off electricity at weekends, which could slash hundreds off your bill. We look at who can get it and how to apply
-
Trump calls “tariff” the “most beautiful word in the dictionary”, but investors may disagreeDonald Trump has promised to slap Mexico, Canada and China with new tariffs on day one of his presidency. What does it mean for the economy and investors?
