After reporting better-than-expected sales in the holiday season, Next doesn’t seem to be too worried about the current lockdown in the UK.
The British clothing retailer has said that despite lockdown being imposed in several regions across the UK, 2021 isn’t going to be impacted much.
Substantiating on this, Simon Wolfson, CEO, Next, said that this is traditionally quietest period of the year and will continue for some time. However, it will improve in April and is likely to return to more normal business from July onwards.
Also, he said that the retailer was better prepared this time to face lockdowns and consequent challenges than it was earlier.
The holiday sales have been good for the retailer; however, the new lockdowns have dented its profits to some extent. Next, reportedly, is now eagerly looking forward to rebound from July.
Meanwhile, the fashion retailer has said that it hopes to see a pretax profit of US $ 503 million for its fiscal year before two one-off charges.
It is always a delight to see a brand as big as Next showing lot of optimism especially at times when the whole retail world continues to be shaken by the pandemic.
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