UK retailer Next's sales surge 8% in H1 FY25

01 Aug '24

1 min read

UK retailer Next's sales surge 8% in H1 FY25

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Insights

Next reported an 8 per cent rise in total group sales for H1 FY25, with full price sales up 4.4 per cent, surpassing guidance.
In Q2 FY25, full price sales rose 3.2 per cent YoY.
UK sales slightly beat expectations, while overseas online sales surged 21.9 per cent.
The company raised its FY25 profit guidance by £20 million to £980 million (~$1.25 billion).

British multinational fashion retailer Next Plc has reported an 8 per cent increase in total group sales, including markdowns, subsidiaries, and investments in the first half of fiscal 2025. Full price sales for H1 were up by 4.4 per cent compared to the previous year, surpassing the company's guidance of a 2.5 per cent increase.

In the second quarter (Q2 FY25), full price sales rose by 3.2 per cent year-on-year, exceeding expectations by £42 million (approximately $53.6 million). Despite forecasting a 0.3 per cent decline due to an exceptionally strong summer last year, the company achieved better-than-expected results. Full price sales in the UK, combining online and retail channels, were slightly above expectations, increasing by 0.4 per cent. Overseas online sales performed exceptionally well, growing by 21.9 per cent, the company said in a press release.

As a result of these strong performances, Next Plc has raised its profit guidance for the full year by £20 million to £980 million (approximately $1.25 billion), representing a 6.7 per cent increase compared to the previous year.

Fibre2Fashion News Desk (DP)

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