Next bucks retail downturn with online boom
Next has reported buoyant sales from its online arm over the important pre-Christmas market – helping to offset a continued poor High Street showing.
Next Directory recorded impressive growth of 16.9% between August 1 and December 24, in stark contrast to the High Street business which contracted by 2.7% over the same period.
As physical stores still account for around two thirds of total sales however the overall boost to the retailers trading performance was just 3.1%.
Next’s figures were particularly impressive as the firm held to its long standing policy of not discounting items prior to Christmas.
Next said it was cautiously optimistic about the New Year trading period, anticipating sales slightly ahead of expectations.