NEXT Q1 sales dip as online performance weakens - Indoors Beauty

NEXT Q1 sales dip as online performance weakens

NEXT Q1 sales dip as online performance weakens

NEXT has maintained its steering for the full-year, regardless of a decline in full-price sales for the primary quarter ending 29 April 2023.

The retailer’s full value sales dropped 0.7% within the 13 weeks, which was barely forward of its expectation of two% decline.

Bricks-and-mortar sales have been down 0.6%, while online sales dropped 1.6%.

Including markdown, sales have been up 1.2% on final yr. This was pushed by “larger clearance sales”.

“Although our first quarter performance reasonably exceeded our sales steering, we imagine it’s too early within the yr to change our total sales expectations for both the half or full yr,” stated NEXT.

To preserve its first half steering, the retailer has moderated its sales forecast for the second quarter, which is now deliberate to be down 5% on final yr. Its earlier steering was a drop of 4%.

NEXT additionally stated it might preserve its sales and revenue steering for the full-year, with sales anticipated to lower 1.5% and revenue earlier than tax anticipated to whole £795 million.

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