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Next remains resilient

With the Olympics out of the way, clothing retailer Next has reported a recovery in sales during the latter part of its third quarter
November 1, 2012

What's new

â–  Late third-quarter sales rebound

â–  Directory business growing strongly

â–  Evidence of trading volatility

IC TIP: Hold at 3595p

When clothing retailer Next (NXT) reported its half-year figures in September, it revealed that trading since the early part of the third quarter, for August and early September, had been "unusually quiet". So news that trading during the third quarter as a whole had recovered somewhat - since Olympics-related distortions had worked through - was certainly welcome. Specifically, the group experienced stronger sales in late September and early October - third-quarter retail sales grew 1.1 per cent with directory sales up by a solid 5.6 per cent.

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