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.
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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.
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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.
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