This website londonlovesbusiness.com/next-shares-hit-after-sales-growth-slows/ is currently offline. Cloudflare's Always Online™ shows a snapshot of this web page from the Internet Archive's Wayback Machine. To check for the live version, click Refresh.

@Avalon.red

Next shares hit as sales growth slows

by Purvai Dua October 31, 2018

written by Purvai Dua 31^st Oct 18 10:19 am

Next shares were down 5.5 per cent today after the British retailer reported a slowdown in sales growth in its latest quarter.

Next, which raised its sales and profit targets last month, said today that it’s full-price sales, including interest income, rose 2.0 per cent in the 13 weeks to Oct. 27, having risen 2.8 per cent in the previous quarter.

For the 2018-19 year,Next forecast full-price sales growth of 3 percent and pretax profit of £727m versus £726.1m in 2017-18.

Next also outlined the group’s Brexit no-deal contingency plans where it warned that in the “unlikely event” that free-trade agreements were not put in place, it could send the cost of imported goods soaring by up to around £20m, which could push up prices by around 0.4per cent.