Next sales up as shoppers flock back to high street but firm warns of slowdown as inflation hits August 4, 2022 Next has shared elevated quarterly sales, suggesting that warm weather and the closure of high street rivals has driven shoppers into stores. In a trading update on Thursday, second quarter full price sales were boosted five per cent versus last year, some £50m ahead of the clothing firm’s previous guidance. Next attributed this to a [...]
Next apologises to staff for underpaying them for months after payroll malfunction July 17, 2022 Next has apologised to staff who have been underpaid for several months after a new IT system malfunctioned. Staff have been underpaid for months after payroll functions were outsourced to the US tech firm Oracle in February, according to The Sunday Times. The London-listed firm has been trying to solve the error for months, with [...]
Next snaps up JoJo Maman Bebe April 17, 2022 Next and a group of finance firms have snapped up JoJo Maman Bebe in a push for the baby goods retailer.
Next anticipates £10m hit to profit after suspending online sales to Ukraine and Russia March 24, 2022 Fashion retailer Next has lowered its profit guidance by £10m after it stopped online sales in Ukraine and Russia. The high street name also shrunk its sales guidance for the 2022/2023 year by £85m, a two per cent dip. In results published on Thursday, it anticipated its full price sales would rise five per cent [...]
First Gap shop opens in Next’s Oxford St shop in retailer’s return to UK high street March 14, 2022 The first Gap-branded shop within a Next store has opened on Oxford St, after the two firms entered a joint venture franchise. The fashion retailers have joined forces with Next managing Gap’s e-commerce business plus Gap-branded “shop-in-shops” at Next stores. The opening marks Gap’s physical return to the UK high street after the US retailer [...]
Next to wind down Russian operations after invasion of Ukraine March 7, 2022 Fashion retailer Next will close its Russian operations following the invasion of Ukraine, as British brands move to condemn the country. The clothing retailer informed staff at its Russian distribution hub that it will be winding down the operation in an orderly way. It told staff its website will be closed for Russian customers too, [...]
Two CEO success stories should put nonsense comparison to bed January 7, 2022 Today marks what unions and one particular think tank term ‘high pay day.’ It’s the day at which an average FTSE 100 CEO has earned the equivalent of the whole-year earnings of the so-called average worker. As ever, the comparison is facile, the implication idiotic, and it is deserving of no more than these few [...]
Next warns of sales slowdown while stock availability still ‘challenging’ November 3, 2021 Fashion retailer Next this morning warned it is anticipating a sales slowdown next quarter as pent-up post-lockdown demand eases. In a trading update, the clothing firm said its full price sales in the thirteen weeks to October 30 were up 17 per cent compared to pre-Covid levels. However, it warned its fourth quarter growth would [...]
Next boss: Not constructive to say UK is addicted to cheap overseas labour October 6, 2021 Next boss Lord Wolfson has hit back at the Prime Minister’s claims that businesses like his want the government to “fix every problem” by lifting immigration controls. Lord Wolfson, who supported Brexit, told CityAM last month he would urge the government to ease immigration in line with demand, to help fill roles in retail and [...]
Brexit-backing Next boss calls for speedy government intervention in staff crisis September 29, 2021 Next, headed by Brexit-backing boss Lord Wolfson, has called on the government to relax immigration rules to ensure its operations run smoothly this Christmas. “It’s a question of availability, we need a system that’s geared up to give more visas,” Wolfson told CityAM. Wolfson hit back at critics who said the country had got what [...]