Success At Next Boosts Profits But Leaves It With Little Stock For Bargain Hunters

Clothing retailer Next said its profits were boosted by £10 million after sold more full price stock online and in its shops during the first half.

Directory sales increased 8.3 per cent in the 26 weeks to July 27. In the same period sales from stores dropped 0.9 per cent meaning total brand sales were 2.3 per cent higher than the same period the year before. It said 1.8 per cent of that was due to added shops.

The chain, who's chief executive's comments are increasingly seen as an economic bell weather,  said it was difficult to read conditions on the high street at present amid so much volatility.

The company said: 'It would appear that consumers are becoming more spontaneous in their purchasing habits. As a result, weekly sales are more affected by short term events such as a change in the weather, the timing of Bank Holidays, school holidays, etc.

'We do not believe increased volatility has much effect on overall spending, but it does mean short term consumer trends are harder to read,' the company said.

The graph below was published by Next this morning and gives a weekly break-down of sales rises and falls compared to the previous year.

Next First-Half Weekly Sales Data