Next reports profits hike

Next has reported profits up 7.6% to £214.9m across its retail and catalogue business for the half year to July.

Next

The retailer enjoyed total sales up 1% overall with Next Directory performing slightly better with a sales increase of 1.7%.

Total retail sales were 0.8% ahead of last year, as a result of additional retail space but like for like sales at its high-street stores slipped 1.2%.

Next has maintained its marketing spend over the course of the year, investing in window displays, press and television advertising and PR activity.

Over the six-month period, the retailer has invested £14m in improving its retail stores and by the end of the year 85% of the store portfolio will have been updated with a further spend of £7m.

Next also boosted its trading space by over the period and plans to increase retail-trading space by 5.5% and open 11 additional Home stores.

The UK retailer plans to internationally in 2010 with an international online business expected to turnover £3m in it’s first year.

Despite “resiliant” results, the retailer expects continued negative like for like sales for the second part of the year and does not expect the consumer environment to change.

Next’s end of season sale will begin early on Boxing day this year which it expects to add to costs and impact on clearance rates.

Latest from Marketing Week

Tesco, M&S, Just Eat: 5 things that mattered this week and why

m&s

M&S chief outlines digital-first strategy after profits plummet Marks & Spencer (M&S) is gearing up for a digital-first future, after its revealed on Wednesday (23 May) that profits had dropped a massive 62.1% to £66.8m compared to the previous year. A day earlier, the struggling retailer confirmed it will close more than 100 stores over […]

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

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

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big 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 are 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.

Having problems?

Contact us on +44 (0)20 7292 3703 or email customerservices@marketingweek.com

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