The company’s initial guidance for the year ending January 2024 is for full price sales to be down by 1.5 per cent and profit before tax to be £795 million, down 7.6 per cent versus the current year, Next plc said in a press release.

British multinational clothing, footwear, and home products retailer Next plc has increased its profit before tax guidance for financial year 2022-23 (FY23) to £860 million, up by £20 million (4.5 per cent) compared to FY22. The company’s earnings per share in FY23 is expected to be around 567.2p, up 6.9 per cent compared to the previous financial year.

For FY24, underlying product sales are expected to be down by 2.2 per cent. Interest income is expected to contribute 0.7 per cent growth to sales. This is mainly as a result of consumer balances continuing their return to pre-pandemic levels.

In the nine weeks to December 30, 2022, Next plc’s full price sales were up 4.8 per cent versus FY22.  This was c.£66 million better than previous guidance of minus 2 per cent for the period.  

Fibre2Fashion News Desk (DP)