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Faster than expected sales for Next

Next the Online retailer and mail order catalogue company have seen sales grow faster than expected.

However, despite the increase which has been put down to the prolonged hot spell, sales have fallen by almost 6%.

Why has Next Share price fallen despite increased sales?

The retailer was cautious on its prospects for the rest of the summer, saying it had already sold stock it had hoped to sell in August.

Online sales were up 12.5%, but in its retail stores, trade fell by 5.9%.

Next maintained its full-year profit forecast at £717m, down 1.3% on 2017.

The retailer said it had expected the sales rise for the quarter to be just 1%.

 

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