×
540
Fashion Jobs
HAYS RECRUIMENT
Merchandising Manager - Growing Jewellery Brand
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Ecommerce Manager
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Sales Supervisor
Permanent · LONDON
TOO FACED
Too Faced Business Manager, Boots - Oxford
Permanent · OXFORD
TOO FACED
Too Faced Business Manager - Boots, Leeds Trinity
Permanent · LEEDS
FOUR SEASONS RECRUITMENT
Merchandising Manager
Permanent · LONDON
360 RESOURCING
Account Manager
Permanent · LONDON
BIMBA Y LOLA
Sales Assistant Brompton Road
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Brompton Road
Permanent · LONDON
BIMBA Y LOLA
Sales Assistant Richmond
Permanent · LONDON
HAYS RETAIL
Retail Operations Manager
Permanent · LONDON
NEXT RETAIL LTD
Home Design Consultant
Permanent · CAMBERLEY
NEXT RETAIL LTD
Warehouse Administrator
Permanent · DONCASTER
HAYS RECRUIMENT
E-Commerce Manager
Permanent · LONDON
HAYS RECRUIMENT
Eyewear Account Manager South London
Permanent · LONDON
NEXT RETAIL LTD
Home Design Consultant
Permanent · CARDIFF
NEXT RETAIL LTD
Sales Coordinator - Permanent
Permanent · LONDON
360 RESOURCING
Head Office Recruitment Consultant - Fashion Retail
Permanent · LONDON
360 RESOURCING
Temps Controller / Temps Recruitment Consultant - Fashion Retail
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Production Manager-Shoes & Slg-Luxury- London Salary up to £70k
Permanent · LONDON
DEPLOY LONDON
International Sales & Marketing Manager
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Digital Marketing Manager
Permanent · LONDON
Advertisements

Next wants CVA clause in future rental agreements

Published
today May 21, 2018
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Next has plans to capitalise on the recent flurry of rivals receiving rent cuts by adding a special clause to its rental policy.


Next


The British fashion chain wants to ask landlords to agree to rent reductions on its stores if a neighbouring shop has received a similar deal through a company voluntary agreement, according to The Sunday Times.

The high street has seen several British retailers resort to the insolvency process in a bid to avoid collapse. A CVA allows retailers to negotiate rent reductions with landlords, a measure that would be otherwise extremely difficult to achieve.

Mothercare, New Look, Select and Carpetright have all recently been forced to seek help, while House of Fraser is expected to enter a CVA in June.

Despite the current pressures facing the UK retail sector, Next has been performing relatively well, particularly online. The brand’s latest trading statement revealed a 6% increase in full-price sales for the first quarter to 7 May, with the strong online channel (+18%) offsetting a 4.8% decline in retail store sales.

Next said first quarter sales were better than expected and around £40m ahead of forecasts. This will add around £12m to full-year profit, and as a result, EPS is expected to increase by 3.7%, compared to the 1.4% previously expected.

Additionally, Next said its cash flow remains strong and that it will generate around £300m of surplus cash after deducting interest, tax, capital expenditure and ordinary dividends.

Copyright © 2020 FashionNetwork.com All rights reserved.