Britain's Next keeps full year guidance after Q3 sales rise

British clothing retailer Next kept its profit guidance for the full 2019-20 year on Wednesday, as it reported third quarter sales growth slightly ahead of guidance given in September.

LONDON, Oct 30 (Reuters) - British clothing retailer Next NXT.L kept its profit guidance for the full 2019-20 year on Wednesday, as it reported third quarter sales growth slightly ahead of guidance given in September.

Next, which trades from about 500 stores in the UK and Ireland, about 200 stores in 40 countries overseas and its Directory online business, said full price sales including interest income rose 2.0% in its third quarter to Oct. 26.

The group said it believed that strong sales in July pulled forward sales from August. It said sales in September were adversely affected by unusually warm weather, while it saw a significant improvement in October when temperatures fell.

"We believe the improved sales growth in October recouped some of the lost sales in September and we do not expect sales growth for the rest of the year to be as strong as October," it added.

(Reporting by James Davey; editing by Sarah Young)

((james.davey@thomsonreuters.com))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More