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Next Shares Jump 6% as UK Retailer Raises Profit Forecast for the Third Time This Year on Strong Sales
['Tony Jackson']
International Business Times Australia
Instead, sales came in £70 million ahead of the retailer's expectations, split between a £19 million beat in the UK and a £51 million beat overseas.
The company said £15 million of the increase stemmed from the additional sales, while the remaining £10 million reflected better-than-expected returns on its equity investments.
International online sales were the standout performer in the update, surging 36.9% during the second quarter and pushing first-half international online growth to 23.9%.
By contrast, total UK sales rose a more modest 2.8% during the quarter, as a 0.3% decline in physical store sales was offset by 5% growth in UK online sales.
Taken together, the updated guidance implies full-year full-price sales of £6 billion, up from a previous forecast of £5.9 billion, and total group sales of £7.5 billion, up from £7.3 billion previously.