Wednesday, 1 November 2017

Next shares fall after "extremely volatile" trading warning

Next has once again seen growth in online sales offset a decline in its shops, amid what it called "extremely volatile" trade in the third quarter.

The fashion retailer's website sales rose 13.2% in the three months to October, but in-store sales fell 7.7%. Overall, total sales rose 1.3%.

This continued the trend from the first six months of 2017 with online sales offsetting a fall in shop purchases.

Next's shares fell by more than 7% in early trading after the announcement.

A Next spokesman told the BBC that the company's results "mirrored the national trend" as more consumers moved online and that all retailers were having similar experiences.

BBC       News.