Home Business News Next shares drag down FTSE 100

Next shares drag down FTSE 100

by LLB Editor
30th Oct 19 9:56 am

Next shares are dragging down the FTSE 100.

They’re down 2.86% to 6,653.96 after it said retail sales fell 6.3% in the third quarter.

It told the stock market: “We believe that strong sales in July (shown in grey in the chart) pulled forward sales from August.

“Sales in September were adversely affected by unusually warm weather and we 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 has maintained its financial guidance for the year and says its Christmas trading update will be on 3 January.

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