Next increases marketing budget

Next is ramping up its ad spend to 10m after reporting a 7.2% drop in sales for 2006. The retailer, which last year ran its first advertising campaign in nine years, is increasing its annual marketing budget from 1.5m to 10m and revamping its 470-strong store portfolio.

Next is ramping up its ad spend to £10m after reporting a 7.2% drop in sales for 2006.

The retailer, which last year ran its first advertising campaign in nine years, is increasing its annual marketing budget from £1.5m to £10m and revamping its 470-strong store portfolio.

Chief executive Simon Wolfson called the results “disappointing” and says the company needs to “recapture some of the magic and excitement” in its stores.

However, the group reported that profit before tax was up 6.5% to £478m. The Next Directory saw sales increase by 13.1% on last year.

Wolfson says the company has taken steps to revitalise the brand by improving its product offering, marketing and store environment.

Next recently promoted Christine Gerrard, the company’s head of public relations, to the role of retail marketing director following the retirement of Sue Myatt after 25 years.

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here