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Next warns on sales and profits following chilly March

The high-street retailer has blamed unexpectedly cold weather in March for its ongoing sales decline
May 4, 2016

Despite a 4 per cent rise in the share price in reaction to the new forecasts, it wasn't a great set of numbers from high-street chain Next (NXT). The retailer said total sales fell 0.2 per cent between the end of January and the start of May 2016, while retail sales crashed by 4.7 per cent. All in all, that's left Next brand sales trailing 0.9 per cent for the year so far, which is only just inside management guidance for a yearly sales performance somewhere between a 1 per cent decline and 4 per cent growth.

IC TIP: Hold at 5,180p