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Next’s winning streak owes more to product than to weather, says GlobalData
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Retail Times
In fact, Next’s total product full-price sales rose by 9.7% in Q2, landing £70m ahead of Next’s own expectations.
As a result of its continued strong performance, the retailer has raised its full price sales growth guidance to 6.3% compared to 5.0% previously for the full year.
“In the UK, Next’s full-price sales rose 2.8% in the quarter, driven by the online channel, which rose 5.0%, while retail store sales marginally fell 0.3%.
In addition to a strong product offering, the UK performance was helped by the exceptionally hot weather pushing consumers to buy summer ranges.
“Online international full price sales rose 36.9% in Q2, helped by pent-up demand in the Middle East after a more muted Q1.