Next Plc Announces Sales Results for the Period from November 1, 2012 to December 24, 2012 and Year to Date Ended December 24, 2012; Provides Earnings Guidance for the Full Year Ended January 2013
January 03, 2013 at 02:00 am EST
Share
Next Plc announced sales results for the period from November 1, 2012 to December 24, 2012 and year to date ended December 24, 2012. For the period from November 1, 2012 to December 24, 2012, the company announced the sales growth of 3.9%.
For the year to date ended December 24, 2012, the company announced the sales growth of 3.9%.
The company provided earnings guidance for the full year ended January 2013. The company announced although sales have been in line with its expectations, cost control measures, markdowns and gross margins have all been slightly better than expected. As a result the company is able to narrow its profit guidance to the top of its previous range (which was £590 million to £620 million). The company now expects profit to be within £7 million either side of £618 million. For the full year, the company expects group profit before tax between £611 million and £625 million, growth in profit before tax between 7.1% and 9.6%, growth in basic earnings per share between 14% and 17% from last year value of 255.4 pence per share.
Next plc specializes in the design and distribution of ready-to-wear clothing (for women, men, children), accessories, costume jewelry and home products. Net sales break down by activity as follows:
- ready-to-wear clothing distribution (94.3%): mail order (37.7% of net sales; telephone orders, on-line sales), sales generated by Next stores in the United Kingdom (31.2%; 477 stores), and sales from International stores (1.1%; 199 franchised stores);
- credit allocation (5.1%) ;
- other (0.6%).
Net sales break down geographically as follows: the United Kingdom (83%), Europe (9.7%), Middle East (5.3%), Asia (1.1%) and other (0.9%).
Next Plc Announces Sales Results for the Period from November 1, 2012 to December 24, 2012 and Year to Date Ended December 24, 2012; Provides Earnings Guidance for the Full Year Ended January 2013