Enderby EYE

…………the village and beyond

Menu
  • Home
  • Notices
  • Audio / Video
  • About…
  • Your Log In…
Menu
NEXT Highcross Leicester

Next profits set to pass £750m

Posted on March 25, 2014March 25, 2014 by staff

NEXT Highcross LeicesterNext says it is on course to make profits of three-quarters of a billion pounds this year as it benefits from a strengthening economy.

Speaking to the Leicester Mercury’s Business Editor Ian Griffiin, in an interview published on 21st March, the Enderby fashion giant gave its most upbeat forecast for at least five years.

The company said sales could rise by up to 8 per cent in the year to January 2015, with profits of up to £770 million.

The group revealed pre-tax profits rose by 11.8 per cent to £695 million in the 12 months to January – a fifth consecutive year of record profits.

Total sales were 5.4 per cent higher, at £3.7 billion.

Chief executive Lord Simon Wolfson said:

“It’s very, very difficult to forecast, but my feeling is things are getting better.

“If you look at the indicators in the economy, employment is getting stronger and credit is rising.”

Last year’s performance means 32-year-old Next looks set to make more annual profits than arch-rival Marks & Spencer for the first time.

The 130-year-old high street icon is forecast to post pre-tax profits of £626 million in the year to the end of March.

However, Lord Wolfson declined to be drawn on what many would see as a symbolic marker.

“We don’t comment on competition,” he said. “What we are really competing against is our own numbers from last year. That’s what the shareholders care about.”

The shareholders would also see that Next’s shares rose 2.28 per cent yesterday to £67.30 – a price more than 50 per cent higher than a year ago.

As ever, growth in Next’s online trading massively outstripped the sales rise at the group’s 541 stores.

Sales at the fast-growing Next Directory – where 90 per cent of sales are online – rose by 12.4 per cent to £1.19 billion, compared with a 1.7 per cent rise for its stores.

The ever-cautious Lord Wolfson said there was a good possibility the strength of the recovery would be sustained. He said:

“Conditions are likely to remain far from buoyant and there are real risks to the sustainability of the current recovery”.

Chairman John Barton said:

“The year to January 2014 was a great year for Next.”

Read original news item on Leicester Mercury website here 

Read more in Leicester Mercury Business Monthly:
So, what’s in store for Next’s chief executive Lord Simon…

Share this:

  • Facebook
  • Twitter
  • WhatsApp

Related items (based on keyword)

  • Enderby
  • next
  • Next profits set to pass £750m
  • Leave a Reply Cancel reply

    You must be logged in to post a comment.

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Search the EYE

    COVID-19

    covid poster

    Explore more…

    • About the ‘EYE’
    • Notices
    • Audio Gallery
    • Video Gallery
    • Brief history of Enderby
    • Enderby on the Map
    • Useful Tel. Nos.

    Latest News

    • Litter picking heroes offered support
    • MP calls for tougher pet theft sentences
    • Co-op supports Helipads for Hospitals charity as Big Red Bin is delivered to ‘top coop’ in Enderby
    • Empty Home owners urged to consider becoming a landlord
    • Local residents invited to nominate good causes to receive Coronavirus support from Taylor Wimpey

    Archived News

    My Tweets
    Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
    To find out more, including how to control cookies, see here: Cookie and Privacy Policies
    © 2021 Enderby EYE | Powered by Minimalist Blog WordPress Theme