Saturday August 8, 2020

Next holiday sales fall short of expectations

The UK retailer blamed mild November weather for disappointing Christmas sales

5th January, 2016
Next shares fell by nearly five per cent

In UK retail, even the best struggled at Christmas.

Next, admired by investors for a record of consistent earnings growth, missed analysts’ estimates of holiday sales by a wide margin. As expected, mild November weather was to blame, though Next also pointed to increasing online competition for its long-established Directory e-commerce unit.

“The worry is Next Directory because that’s where the big miss has been,” said Tony Shiret at Haitong. Sales at the unit...

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