ENDERBY (dpa-AFX) - Next Plc (NXT.L), on Thursday, reported that Q2 full-price sales were up 3.2% versus last year, surpassing its expectations by £42 million.
In the first half, full-price sales were up 4.4% versus last year. The company guidance for this period was to be up 2.5%. Total Group sales, including markdown, subsidiaries, and investments, in H1 were up 8.0%.
Further, the company stated that it has increased its profit guidance for the full year by £20 million to £980 million, up 6.7% versus last year, reflecting additional sales of £11 million and cost savings of £9 million, mainly in logistics.
Total Group sales for the full year are expected to be up 6.0% on last year, which is 2.6% higher than the company's expected growth in NEXT Trading full-price sales of 3.4%. The difference is the result of acquisitions completed during last year.
The company acquired 97% of FatFace in October 2023 and increased its equity share in Reiss from 51% to 72% in September 2023.
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