ROCHE PANMURE GORDON
Next has published a strong trading statement for the period with sales and margins better than expected.. On the back of the statement, we have raised our Directory revenue growth forecast for 2013 to 10.5 per cent from 10 per cent and our Next Retail revenue growth forecast to 0.6 from 0.5 per cent.
BETHANY HOCKING INVESTEC
Brand sales growth was 3.9 per cent, in line with guidance at the third quarter stage and a number which should reassure.....We remain long-term fans of Next’s strategy and management, but continue to feel that these attractions are reflected in the current rating of the shares.
FREDDIE GEORGE SEYMOUR PIERCE
Next is highly cash generative, tightly run and looks to continue to execute on the basics of giving the consumer great product and capitalising on its leading multi-channel position. But the sector has performed strongly over the last year and sector rotation is likely to lead to a period of consolidation.