×
6 261
Fashion Jobs
HEAD OFFICE
Cyber Security Lead – Incident Response
Permanent · BRACKNELL
MATCHES FASHION
Accounts Receivable Manager
Permanent · LONDON
NEXT
Sales Manager - Southampton Hedgeend
Permanent · SOUTHAMPTON
WAITROSE
Chilled Warehouse First Line Manager – Nights
Permanent · AYLESFORD
MATCHES FASHION
Stock Coordinator
Permanent · LONDON
HOLLISTER CO. STORES
Hollister CO. - Graduate Manager in Training, George Street
Permanent · Edinburgh
HOLLISTER CO. STORES
Hollister CO. - Graduate Manager in Training, Braehead
Permanent · Renfrew
JOHN LEWIS
Section Manager Warehouse
Permanent · WEYBRIDGE
HARRODS
Concessions HR Manager
Permanent · LONDON
HARRODS
Stock Operative
Permanent · LONDON
HARRODS
Restaurant General Manager
Permanent · LONDON
HARRODS
CRM Executive Customer Data
Permanent · LONDON
OYSHO
New Store Opening - Oysho White City - General Manager
Permanent · LONDON
HARRODS
Uniformed Security Officer
Permanent · LONDON
HARVEY NICHOLS HEAD OFFICE
Ecommerce Director
Permanent · LONDON
NEXT
Sales Coordinator - Galashiels
Permanent · HUDDERSFIELD
SPORTS DIRECT
Loss Prevention Supervisor
Permanent · LEICESTER
SPORTS DIRECT FITNESS
Assistant General Manager - Everlast Fitness
Permanent · BURY ST EDMUNDS
SPORTS DIRECT FITNESS
General Assistant - Everlast Gyms
Permanent · BURY ST EDMUNDS
SPORTS DIRECT FITNESS
General Manager - Everlast Fitness
Permanent · RUGBY
EVERLAST GYMS
General Manager - Everlast Fitness
Permanent · STOKE-ON-TRENT
HEAD OFFICE
Merchandise Planner – Food & Grocery Merchandising
Permanent · BRACKNELL
Ads
Published
Mar 30, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Analysts tip Next for rosy future

Published
Mar 30, 2021

Long seen as a bellwether for the health of UK clothing retail, Next is set to reveal its annual trading figures on 1 April. And although the market expects to see profits slashed more than half in its latest year, the outlook is far from gloomy.


Photo: Sandra Halliday


Despite its stores being shuttered by non-essential stores’ lockdown measures, analysts are expecting an optimistic forecast for the new financial year with the retailer anticipated to recover strongly as restrictions continue to ease from next month.

The upbeat view is backed by the retailer consistently having upgraded its profit forecasts over the past financial year on the back of strong online sales volumes.

Analysts at the Royal Bank of Canada told Proactive Investors that the retailer’s strong online and credit offer leave it well-placed to benefit from heavily disrupted UK mid-market, “by leveraging its logistics, range and customer loyalty advantages”. 

The Canadian bank has upgraded its investment stance to ‘outperform' from 'sector perform’ while also upping its FY22-23 profit forecasts 5%-9% above consensus.

Analysts generally are also anticipating more news on its emerging ‘Total Platform’ offer, including third-party brands and the recently-acquired Reiss and Victoria's Secret (UK) brands, as the group works to expand its portfolio to further spark recovery.

Next is expected to post pre-tax profits of around £342 million for the year to January, compared with a £728 million profit for the previous year. However, this is a significant improvement on much earlier projections when CEO Simon Wolfson warned it might not deliver any profit.

But in January, he said the retailer was expecting to record flat sales for 2021-22 with a pre-tax profit of around £670 million. That forecast came as Next posted better-than-expected sales in the run-up to Christmas, with revenues dipping just 1.1% in the nine weeks to 26 December.



 

Copyright © 2022 FashionNetwork.com All rights reserved.