Business
NEXT PLC - Trading Statement
NEXT PLC - Trading Statement.
About this update from Next Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5226K\n Next PLC\n 05 January 2021\n \n \n \n \n \n \n \n Date:\n \n \n Embargoed until 07.00hrs, Tuesday 5 January 2021\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Contacts:\n \n \n Amanda James, Group Finance Director (analyst calls)\n \n \n \n \n \n \n \n NEXT PLC\n \n \n Tel: 0333 777 8888\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Alistair Mackinnon-Musson\n \n \n Email: [email protected]\n \n \n \n \n \n \n \n Rowbell PR\n \n \n Tel: 020 7717 5239\n \n \n \n \n \n \n \n \n \n \n \n \n Photographs:\n \n \n \n http://www.nextplc.co.uk/media/image-gallery/campaign-images\n \n \n \n \n \n \n \n \n \n \n \n \n NEXT PLC\n \n \n Trading Statement - 5 January 2021\n \n This document contains page cross-referencing. Please refer to the PDF version of this statement which is available at\n \n http://www.rns-pdf.londonstockexchange.com/rns/5226K_1-2021-1-4.pdf\n \n \n HEADLINES\n \n \n \n \n \n · \n \n \n \n Full price sales in the nine weeks to 26 December were down -1.1% on last year and much better than our central guidance of -8%, given in our October Trading Statement.\n \n \n \n \n \n · \n \n \n \n After accounting for the benefit of better sales in November and December and anticipated losses from store closures in January, full year profit before tax is forecast to be £370m1 before two additional non-recurring items.\n \n \n \n \n \n · \n \n \n \n A non-recurring profit of +£12m from a 53rd week, along with an additional property provision of -£40m (see page 6), mean that total full year profit before tax is forecast to be £342m.\n \n \n \n \n \n · \n \n \n \n Year end net debt is forecast to reduce by £487m to £625m.\n \n \n \n \n \n · \n \n \n \n For the year ahead (2021/22) our central guidance, which assumes our Retail stores will be closed in February and March, is for profit before tax of £670m, based on full price sales being flat versus two years ago (i.e. 2019/20). \n \n \n \n \n \n \n \n 1 \n \n Profit before tax is quoted on a 52-week basis. The financial information presented in this document does not reflect the impact of IFRS 16 Leases.\n \n FULL PRICE SALES TO 26 DECEMBER\n In the nine weeks to 26 December, the sales gained in our Online bus...