High street giant Next will give a glimpse into how the UK high street has fared this summer after a sunny June boosted sales earlier in the season.
The retail behemoth has gradually increased its profit projections for the year as a result of higher online sales. When the business releases its financial results for the first half of the year on Thursday, September 21, investors will be interested to learn more about the group’s forecast.
Last month, Next reported that full-price sales and a strong end-of-season sale helped it boost its profit target for the entire year by £10 million, to £845 million. Because it anticipated performing better than earlier projections for the entire fiscal year, it was the second time this year that its profit outlook was raised.
However, it would still represent a decrease from the £870 million pre-tax profit made previous year.
Unusually hot weather in June helped drive fashion sales higher for Next, which runs 466 shops across the UK, with online sales leading the jump.
