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.