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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  NEXT plc    NXT   GB0032089863

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Next Profit to Beat Expectations

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01/03/2014 | 09:35am CET

LONDON--U.K. clothing retailer Next PLC (>> NEXT plc) raised its full-year pretax profit forecast and announced a special dividend of 50 pence per share after strong online deliveries boosted its sales in the Christmas period.

Next, which has more than 500 stores in Britain and Ireland and nearly 200 in other countries, now expects to report a full-year pretax profit of between 684 million pounds ($1.13 billion) and GBP700 million, compared with its previous forecast of GBP650 million to GBP680 million.

"The step-up in Christmas trade was mainly down to improvements in our seasonal knitwear, nightwear and gift offer," Next said.

"In addition, increased confidence in online deliveries meant that more customers continued to trade with NEXT Directory right up to the weekend before Christmas."

Next benefited from its decision not to engage in heavy discounting before Christmas day unlike other retailers. Department store group Debenhams PLC (>> Debenhams Plc) earlier this week issued a profit warning after coping with "an unprecedented level of promotional activity" by competitors in the run-up to Christmas.

Shares closed Thursday at 5,530 pence, valuing the company at GBP8.57 billion.

Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter: @RoryGallivan

Stocks mentioned in the article : NEXT plc, Debenhams Plc
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Financials ( GBP)
Sales 2017 4 157 M
EBIT 2017 831 M
Net income 2017 635 M
Debt 2017 727 M
Yield 2017 4,80%
P/E ratio 2017 8,82
P/E ratio 2018 9,17
EV / Sales 2017 1,54x
EV / Sales 2018 1,53x
Capitalization 5 665 M
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Mean consensus HOLD
Number of Analysts 25
Average target price 45,0  GBP
Spread / Average Target 17%
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NameTitle
Simon Adam Wolfson Chairman & Chief Executive Officer
Robert John Orr Barton Chairman
Michael Law Executive Director & Group Director-Operations
Amanda James Executive Director & Group Director-Finance
Stephen David Barber Independent Non-Executive Director
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