Next online growth ‘grinds to a halt’

Next said its e-commerce growth “ground to a halt” during the second quarter of the year in comparison to 2021.

The British fashion and home goods business explained that sales in the first half of the year have been dominated by a sharp reversal of last year’s lockdown trends.

In the first quarter, online sales were down 11 per cent, while in the following quarter they were up by a marginal 0.2 per cent in comparison to 2021.

Online sales growth was still 44 per cent higher than pre-pandemic levels.

While sales in retail stores have recovered during the period, it said that online growth appears to have “reverted back to its longer-term trajectory”.

However, the company thinks these changes reflect a short-term reversal of pandemic trends and are not likely to suggest longer-term trends in consumer behaviour.

Overall second quarter sales were up five per cent compared to last year, £50 million ahead of its previous guidance.

Full year profit guidance is now up £10 million to £860 million, up 4.5 per cent compared to last year.

    Share Story:

Recent Stories


HULFT
Find out how HULFT can help you manage data, integration, supply chain automation and digital transformation across your retail enterprise.
Talking shop: retail technology solutions from Brother
Retail Systems editor Peter Walker sits down with Brother’s senior commercial client manager Jessica Stansfield to talk through the company’s solutions for retailers and hospitality businesses, what’s new in labelling technology, and the benefits of outsourcing printing.