Next quarterly sales drop ‘better than expected’
Next has suffered a drop in full-price sales during its second quarter, as the business struggles to tempt shoppers back to stores.
Sales made through the fashion retailer’s physical stores slumped 72% during the three months to July 25, while online sales increased 9% year-on-year.
Next said the overall drop in full-price sales of 28% during the quarter was “much better than we expected and an improvement on the best case scenario given in our April trading statement”.
This result was bolstered by online sales growth as Next warehouses returned to normal capacity over the past 13 weeks.
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