Next Plc reports better than expected lockdown sales

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Next Plc has upped its outlook for the year, saying the first half was better than at first feared.

Sales from its stores plummeted 61 per cent during lockdown, with the company announcing pre-tax losses for the first half of 2020 of £16.5 million.

By comparison it made profits of £327.4 million a year earlier.

But the high street fashion chain, which adapted quickly to the pandemic, said its online sales jumped 14 per cent in the six months to July.

Combined, it meant overall sales for the half year were down a third.

The business, which has its UK headquarters just outside Leicester, now expects full-year underlying pre-tax profits of £300 million – up

 link source - Business Live News

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