Next blames 'disappointing' pre-Christmas sales on warm weather

5 January 2016 - Janet Bird

Next blames disappointing pre-Christmas sales on warm weather

Fashion retailer Next has blamed the unseasonably warm weather in the run-up to Christmas for what it described as "disappointing" sales.

The company has lowered its full-year-profit estimate as a result of the lacklustre results, which showed sales in its 500 high street stores dropping 0.5 percent between October 26 and December 24, although its Directory business showed a two percent sales increase.

Next now expects its full year pre-tax profits to be around £817 million, having previously predicted profits of between £810 and £845 million.

Full price sales for the year to date are 3.7 percent ahead of last year, but slightly below the 4-6 percent increase previously expected by Next.

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