Online boosts Next second quarter sales
Written by Hannah McGrath
Strong online sales growth at Next drove sales up four per cent in the second quarter, compared to the same period last year.
Figures for the three months to 27 July showed online sales had risen 12 per cent, up 0.2 per cent on the 11.8 per cent increase in the first quarter.
However, the strength of Next’s digital sales in the second quarter was counterbalanced by a drop in physical retail sales of 4.2 per cent.
On a six-month basis, online sales were up 11.9 per cent, compared to a fall of 3.9 per cent for in-store sales.
Next has benefitted from welcoming other retailers onto its online marketplace, with brands such as Pretty Little Thing drawing in a younger customer base.
As a result, the retailer raised its full year profit guidance by £10 million to £725 million, up 0.3 per cent on last year.
Commenting on the results, Wunderman Thompson Commerce’s head of innovation Naji El-Arifi said: “Next’s positive results are a testament to the success of its online retailing business and highlights the importance of e-commerce for fashion brands.
“Consumers are becoming increasingly accustomed to purchasing clothes online, and the rise of online-only fast-fashion brands such as ASOS and Boohoo, alongside the recent push from Amazon into fashion, means that they are now spoiled for choice.”