The good news for the shares is that Directory sales growth was 8.9 per cent, ahead of the third and fourth quarter run rate... and ahead of our estimate of a six per cent rise...Next has also confirmed it is confident in its £615m-£665m pre-tax profit range for 2014 which will reassure the market.
JOHN STEVENSON PEEL HUNT
Next brand sales beat consensus and Peel Hunt estimates as a result of a strong recovery, helped by pent-up demand in April. Unusually, Next has published weekly sales performance data for the period, showing the poor weather impact in March and the subsequent recovery.
KATE CALVERT CANTOR FITZGERALD
Next reported a solid first quarter performance, despite a very difficult couple of months for apparel retailers with the weather...the group continues to drive growth by pursuing marginal gains in its offer, service and efficiency, which enhances its already highly profitable multi-channel business.