Wednesday, 3 January 2018

Next shares soar after surprise sales rise over the festive season



Next has reported a 1.5% rise in full-price sales over the festive season, beating its own expectations of a dismal Christmas.
 
The fashion and homewares retailer credited colder weather for driving the performance - perhaps giving hope that Christmas has not proved to be the damp squib for the wider sector that some commentators had feared.
 
 
Its shares were up 6.67% at the end of Wednesday, while Associated British Foods, which owns Primark and Marks & Spencer, also rose sharply - by 2.09%.


Next said that while store sales fell 6.1% in the 54 days from 1 November to 24 December, online business was 13.6% up on the same period last year.





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