UK DIY News
Next Reports 8% Decline in Q3 Retail Store Sales
Next has reported on sales for the year to 27 October 2018, providing information on full price sales for the third quarter and year to date.
Text from the press release follows:
Full price sales in the third quarter were up +2.0% on last year, in line with our expectations. The table below sets out the sales performance for Retail, Online and our Finance business interest income for the third quarter and year to date.
Full price sales (VAT exclusive) | Third quarter to 27 Oct | Year to date |
Retail | - 8.0% | - 6.3% |
Online | +12.7% | +14.8% |
Product full price sales | +1.3% | +3.1% |
Finance interest income1 | +11.9% | +12.3% |
Total full price sales including interest income | +2.0% | +3.7% |
Of which sales from new space | +0.6% | +0.5% |
1 Interest income is the gross interest billed to nextpay customers.
Full price sales and profit guidance for the full year:
We are maintaining the full year sales and profit guidance that we set out five weeks ago in our Half Year Results. For completeness, this is shown in the table below.
Full year estimate to January 2019 | Central guidance |
Total full price sales versus 2017/18 | +3.0% |
Group profit before tax | £727m |
Group profit before tax versus 2017/18 | +0.1% |
Earnings Per Share growth versus 2017/18 | +5.0% |
Christmas trading statement:
We intend to issue our usual update for sales to 24 December 2018 on Thursday 3 January 2019.
Source : Insight DIY Team and Next
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