Excessive avenue trend chain NEXT has upgraded its revenue targets after shrugging off moist climate at first of summer time.
Gross sales on the retail chain grew because it was additionally buoyed by FatFace, which it purchased for £115 million final 12 months, and Reiss, wherein it now has majority possession.
NEXT mentioned its funds have been boosted by stronger-than-expected gross sales, significantly abroad, and elevated price financial savings.
The retailer mentioned it’s now on monitor for income of round £980 million for the present monetary 12 months, up £20 million on its earlier steerage.
It mentioned this features a roughly £11 million enhance from further gross sales and £9 million enchancment from financial savings, primarily linked to its logistics.
NEXT mentioned full value gross sales had been 3.2% over the quarter to the top of July, surpassing expectations by £42 million after predicting a slight dip.
In an announcement, the corporate mentioned: “The climate final summer time was exceptionally beneficial for clothes retailers, so we had deliberate for full value gross sales to be down 0.3% within the second quarter this 12 months.
“Our full value gross sales within the UK (on-line and retail mixed) had been solely barely forward of our expectations, up 0.4%.
“Abroad gross sales on-line had been a lot better than anticipated, and had been up 21.9%.”
It added that group gross sales, which incorporates subsidiaries, had been up 8% after a lift from its takeover of FatFace and elevated share of Reiss.
