Next PLC
NXT,
said Wednesday that full-price sales in the third quarter of fiscal 2023 rose slightly, and backed its full-year guidance.
The fashion retailer said full-price sales in the 13 weeks ended Oct. 29 rose 0.4%, slightly ahead of expectations. Sales in the last five weeks increased 1.4%, boosted by a particularly strong week at the end of September when temperatures fell and sales of heavier weight products improved, it said.
Excluding Russia and Ukraine, full-price sales for the 13 weeks to Oct. 29 were up 1.5%.
The FTSE 100 listed company said total online sales fell 1.9% in the period, offset by retail sales in the U.K. and Ireland rising by 3.1%, while total product full-price sales slipped by 0.1%.
Next backed its full-year outlook, saying it expects pretax profit of 840 million pounds ($964.5 million), up from GBP823.1 million, and earnings per share to rise 4.5% to 554.5 pence. Full-price sales for the rest of the year are expected to slip 2%.
Write to Joe Hoppe at [email protected]
