Next sales drop predicted

Next

High street stalwart Next is reportedly facing a drop in sales for the second quarter of the year, ahead of its quarterly trading report on Thursday (3 August).

Analysts at Investec have predicted a 3% drop in three-month sales.

Investec has estimated that retail sales will drop by 8.8%, but online sales will rise by 5.2%.

Meanwhile analysts at Deutsche Bank expect to see a similar fall in sales of 2.9%, The Sunday Times reports.

In May, the retailer lowered its full-year group profit before tax to £680m-£740m, down from previous estimates of £680m-£780m.

Next posted a 3% drop in total full-price sales and an 8.1% slip in retail sales for the first quarter.

Read the full article here