The trading update from clothing retailer Next on Tuesday morning was well received, allowing the group's property director, Andrew Varley, to cash in at a good price.
Varley sold 10,000 shares at 1234.43p each, some way below the 1261p high for the day but still comfortably above Monday's closing value of 1091p.
The sale, which raised £123,440, reduces Varley's stake in Next to 69,887 shares, representing 0.036% of the issued share capital.
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
Next cheered the market by saying its full year profit forecast remains in line with City expectations of around £415m to £435m, despite posting a a 1.9% drop in sales in the half year to Christmas Eve.
Like-for-like sales in the 347 stores that were unaffected by new openings down 7%, within the 4% to 7% range the firm had predicted.
Top Director Buys
Value: £211,239
Value: £49,580
Value: £24,000
Value: £15,203
Value: £10,040
Top Director Sells
Value: £9,780,125
Value: £4,890,050
Value: £3,260,025
Value: £1,222,500
Value: £1,075,812
Value: £967,500
Value: £87,698
Value: £123,440
-
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
