Next sales better than expected despite UK’s costs crisis

Wed Nov 2 2022 - 09:14

Full-price sales rose 0.4 per cent during the third quarter, compared to the same time a year earlier as consumers increasingly become more selective when shopping for clothes and homeware. The retailer said sales improved during the period as temperatures dropped and consumers bought heavier weight products. Next’s shares rose 1 per cent in early trading.

Investment bank Liberum named Next as one of its top picks among consumer companies for its strong balance sheet, resilient margins and revenue ahead of the pre-pandemic period. “The performance of the group is admirable, Liberum analysts wrote Wednesday.

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