October sales rise boosts Q3 performance for Next

Retailer Next plc has reported a sales rise for Q3 ‘slightly ahead’ of guidance given back in September.

In a trading statement this morning, the firm reported a Q3 sales increase of 2 per cent on last year, with sales for the whole of 2019 up by 3.5 per cent.

The retailer explained that September’s sales were adversely affected by ‘warm weather’, but that October’s performance had been stronger than anticipated.

Online sales outperformed traditional retail throughout Q3, with an online sales increase of 9.7 per cent against a drop in retail sales of 6.3 per cent.

Next plc commented: “We believe the improved sales growth in October recouped some of the lost sales in September.”

Ahead of further scheduled for release on January 3, the firm added: “We do not expect sales growth for the rest of the year to be as strong as October.”

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