Thursday, 3 August 2017

Next shares jump after sales growth

Next sales have had a big boost from the retailer's Directory catalogue and internet business.

Overall second-quarter sales rose 0.7%, beating expectations, after an 11.4% jump from its Directory catalogue and internet business.

However, full-price sales at Next Retail fell 7.4%, and it said it remained "cautious" about its outlook, given the current consumer environment.

Next shares topped the FTSE 100 in morning trading, rising more than 6.3%.

The company also confirmed it would pay a special quarterly dividend of 45p.
Neil Wilson of ETX Capital said: "Next said it now expects to deliver £307m of surplus cash this year, having guided that to be £255m in May.

"The leap in surplus cash has investors eyeing up more dividends."

BBC     News.

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