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Next cheers sales surge in boost for the high street
Evening Standard
|January 04, 2024
NEXT boss Lord Wolfson fired up hope for the high street today with better-than-expected Christmas trading figures and a prediction that there will be no price inflation in his shops in 2024.
The Conservative peer said consumers faced the most benign environment for "a number of years" and that 2024 is shaping up to be the first "normal" year since before the pandemic.
The upbeat message sent shares racing ahead more than 5% or 410p to 8492p in early trading as the company once again upgraded its profit expectations for the current and coming financial years.
In its statement today Next said fullprice sales in November and December "have been better than we anticipated" with growth of 5.7% compared with 2022 with online performing particularly well with a 9.1% advance.
The headline figure amounted to £38 million or 2 percentage points more sales in than previous guidance to shareholders.
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