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
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
