ENDERBY (dpa-AFX) - Next Plc (NXT.L) reported that its loss attributable to equity holders of the parent company for 26-week period ended 25 July 2020 was 11.5 million pounds or 9.0 pence per share, compared to profit of 266.9 million pounds or 203.3 pence per share in the prior year.
Loss before taxation for the period was 16.5 million pounds, compared to profit of 327.4 million pounds in the prior year.
Revenue for the period dropped to 1.29 billion pounds from 2.01 billion pounds in the prior year.
Brand full price sales in the first half of the year were down 33% on last year and total sales were down 34%.
The company has revised its central scenario for full year profit, up from 195 million pounds to 300 million pounds.
The company said, over the next five years, it expects to spend 625 million pounds on capital expenditure, an average of 125 million pounds per annum. The warehouse expenditure totalling 370 million pounds covers an extensive expansion programme to increase Online capacity.
The company believes the expenditure will increase online warehousing capacity by 80% from where it was during the year ended January 2020.
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