Next boss warns thousands of retail jobs set to become ‘unviable’ September 25, 2020 The boss of fashion retailer Next has warned that hundreds of thousands of retail jobs could become “unviable” due to a more permanent shift to online shopping caused by coronavirus. Lord Wolfson, who heads up the British high street chain, said there were tough times ahead for the sector, following the Chancellor’s announcement of the [...]
Next and M&S show that consumer behaviour isn’t set in stone July 1, 2020 Non-essential shops reopened on 15 June and most leisure attractions are due to reopen on 4 July, indicating a return to some resemblance of normality. There were long queues when high street favourites like Primark reopened, but have 12 weeks of lockdown changed the shopping habits of the British people? New YouGov data suggests that [...]
Next warns sales could drop 40 per cent this year after steeper decline than expected April 29, 2020 High street retailer Next warned this morning that full-year sales could dive as much as 40 per cent after the impact of coronavirus on trading was “faster and steeper” than expected. Next’s share price dropped as much as four per cent after the retailer said total full price sales including interest income were down 38 [...]
Next resumes online trading after increasing coronavirus safety measures April 14, 2020 Fashion retailer Next has reopened its online shop after implementing new measures to make its warehouse operations safer for workers during the coronavirus crisis. The company has limited the number of online sales it will take each day, in order to reduce the number of workers needed to process orders. Next has already reached the [...]
Next suspends online shopping amid UK coronavirus outbreak March 27, 2020 Next has suspended all online operations in order to protect staff amid the UK coronavirus outbreak. The high street retailer said it has made the “difficult decision” to keep warehouse and distribution staff safe as the number of UK coronavirus cases continues to rise. The company said in a statement last night: Next has listened [...]
Next warns of coronavirus blow to online and high street sales March 19, 2020 High street titan Next has warned coronavirus will produce a “very significant” sales blow in the coming year as travel restrictions dramatically damage the retail sector. Next, considered an economic bellwether, said it is now preparing for a “significant downturn” in 2020. “When the pandemic first appeared in China, we assumed that the threat was [...]
Next raises forecast after Christmas sales beat expectations January 3, 2020 Clothing retailer Next continued its strong progress as the company beat its internal forecast for its Christmas performance by 1.1 per cent. In a trading statement, the company said that total full price sales for the fourth quarter were up 5.2 per cent, with sales for the full year up 3.9 per cent. Read more: [...]
Next sales beat guidance, but store performance worries investors October 30, 2019 Next sales beat guidance in the retailer’s third quarter with a two per cent rise, it revealed today. However, retail sales dropped 6.3 per cent in the three months to the end of October, saved by a 9.7 per cent increase in online revenue. Read more: Next defies retail gloom with rise in profits Warm [...]
Next boss: Brexit deal can be struck – but we need nerves of steel August 13, 2019 Next boss Lord Wolfson has said the country needs “nerves of steel” in the coming weeks, but is still hopeful a deal can be struck on Brexit. Wolfson, who advocated Leave during the referendum, has been critical of the previous government’s handling of no deal contingency planning, warning that it could lead to “chaos and [...]
Next leads FTSE 100 as it ups profit forecast after sales boost July 31, 2019 High street retailer Next announced this morning it expects to make more profit this year than previously forecast after a boost in full price sales. Shares in the company rose more than seven per cent this morning as it increased its full year profit guidance by £10m to £725m, a boost of 0.3 per cent [...]