Slide 1: July 2023 1 year comparisons
July 2023 1 year comparisons Current year rounding differences are not adjusted, prior year numbers are as previously presented.
Slide 2: Income Statement
Income Statement £m July 2023 July 2022 Var Total sales 2,638 2,504 + 5.4% Online + 4.1% Retail + 0.9% Finance + 7.1% Full price sales exc. TP & consolidated investments + 3.2% Not presented on a statutory basis. July 2022 total sales have been restated to show NEXT income from TP sales instead of G
Slide 3: Income Statement
Income Statement £m July 2023 July 2022 Var Full Price Total sales 2,638 2,504 + 5.4% + 3.2% Operating profit 456 434 Lease interest (23) (23) Operating profit after lease interest 433 411 + 5.4% Operating profit % 16.4% 16.4% Not presented on a statutory basis. July 2022 total sales have been resta
Slide 4: Income Statement
Income Statement £m July 2023 July 2022 Var Full Price Total sales 2,638 2,504 + 5.4% + 3.2% Operating profit 456 434 Lease interest (23) (23) Financing interest (13) (10) Interest (37) (33) Profit before tax 420 401 + 4.8% Tax charge (98) (72) Effective tax rate 23.3% 18% Corporation Tax rate chang
Slide 5: Income Statement
Income Statement £m July 2023 July 2022 Var Full Price Total sales 2,638 2,504 + 5.4% + 3.2% Operating profit 456 434 Lease interest (23) (23) Financing interest (13) (10) Interest (37) (33) Profit before tax 420 401 + 4.8% Tax charge (98) (72) Profit after tax 322 329 - 2.0% EPS 264.5p 262.3p + 0.8
Slide 6: Cash Flow
Cash Flow £m July 2023 July 2022 Profit before tax 420 401 Depreciation and impairment 62 57 Capital expenditure (84) (107) Working capital / other 2 (174) Tax paid (90) (70) ESOT (42) (77) Surplus cash 268 30 Investments (9) (64) Buybacks (167) (228) Net cash flow 92 (262) The cash flow statement i
Slide 7: Cash Flow | 3 Year View
Cash Flow | 3 Year View £m Capital expenditure (84) (107) 23m Stores & other £206m Technology £184m £36m £170m(e) Warehouse £31m £46m(e) £29m £53m £124m £117m £53m(e) £71m(e) Jan Jan Jan 2022 2023 2024(e)
Slide 8: Cash Flow | E3 Capex
Cash Flow | E3 Capex £m Capital expenditure Stores & other Total spend Technology ~ £200m(e) Elmsall 3 Warehouse Additional capacity ~ £1bn sales £71m £77m Elmsall 3 £30m £27m(e) Jan Jan Jan Jan Feb 2020 to 2021 2022 2023 2024(e) Jan 2024(e)
Slide 9: Cash Flow | E3 Capex
Cash Flow | E3 Capex £m Capital expenditure Elmsall 3 operating costs Total spend ~ £200m(e) £m Annualised(e) Elmsall 3 Occupancy - 26 Management, maintenance, etc. -6 Total cost increases - 32 E3 savings + 32 Other warehouse net savings + 15 Estimated efficiency savings + 47 Feb 2020 to Jan 2024(e)
Slide 10: Cash Flow | E3 Capex
Cash Flow | E3 Capex £m Capital expenditure Elmsall 3 operating costs £m 22/23 23/24(e) 24/25(e) 25/26(e) Annualised(e) Total cost increases -5 - 15 - 12 - - 32 E3 and other efficiency savings 0 + 16 + 17 + 14 + 47 Net cost / savings -5 +1 +5 + 14 + 15
Slide 11: Cash Flow
Cash Flow £m July 2023 July 2022 Var Profit before tax 420 401 Depreciation and impairment 62 57 Capital expenditure (84) (107) Working capital / other 2 (174) 176m Tax paid (90) (70) Stock 126m ESOT (42) (77) 2021 staff incentives - paid 2022 53m Surplus cash 268 30 The cash flow statement is not p
Slide 12: Cash Flow
Cash Flow £m July 2023 July 2022 Var Profit before tax 420 401 Depreciation and impairment 62 57 Capital expenditure (84) (107) Working capital / other 2 (174) Tax paid (90) (70) ESOT (42) (77) 35m Surplus cash 268 30 Investments (9) (64) Buybacks £67.85 (167) £63.85 (228) 61m Net cash flow 92 (262)
Slide 13: Balance Sheet
Balance Sheet £m July 2023 July 2022 Var Fixed and intangible assets 757 644 Goodwill and investments 175 158 Stock 716 805 Debtors / other receivables 1,355 1,318 Other creditors / derivatives (814) (738) Pension surplus 131 191 Dividends payable (168) (157) Net debt (exc. lease debt) (706) (862) R
Slide 14: Balance Sheet
Balance Sheet £m July 2023 July 2022 Var Fixed and intangible assets 757 644 Goodwill and investments 175 158 Stock 716 805 - 89m Debtors 6 monthly/ stock otherbalance receivables 1,355 1,318 Other creditors / derivatives £800m (814) - (738) 11% 805 Pension £700m surplus 131 191 716 Dividends £600m
Slide 15: Balance Sheet
Balance Sheet £m July 2023 July 2022 Var Fixed and intangible assets 757 644 Goodwill and investments 175 158 Stock 716 805 - 89m Debtors 6 monthly/ stock otherbalance receivables 1,355 1,318 Other creditors / derivatives £800m (814) (738) Pension £700m surplus 131 191 Dividends £600m payable (168)
Slide 16: Balance Sheet
Balance Sheet £m July 2023 July 2022 Var Fixed and intangible assets 757 644 Goodwill and investments 175 158 Stock 716 805 - 89m Debtors 6 monthly/ stock otherbalance receivables 1,355 1,318 Other creditors / derivatives £800m (814) (738)-4%(e) Pension £700m surplus 131 191 Dividends £600m payable
Slide 17: Balance Sheet
Balance Sheet £m July 2023 July 2022 Var Fixed and intangible assets 757 644 Goodwill and investments 175 158 Stock 716 805 Debtors / other receivables 1,355 1,318 + 37m Other creditors / derivatives (814) (738) Pension surplus 131 July 2023 191 July 2022 Customer receivables + 3.5% + 41m Dividends
Slide 18: Balance Sheet
Balance Sheet £m July 2023 July 2022 Var Fixed and intangible assets 757 644 Goodwill and investments 175 158 Stock 716 805 Debtors / other receivables 1,355 1,318 + 37m Other creditors / derivatives Customer receivables - monthly closing balance + 8.0% + 3.5% Pension surplus £1,200m Dividends payab
Slide 19: Balance Sheet
Balance Sheet £m July 2023 July 2022 Var Fixed and intangible assets 757 644 Goodwill and investments 175 158 Stock 716 805 Debtors / other receivables 1,355 1,318 + 37m Other creditors Average pay / derivatives off time Pension surplus Dividends payable Net debt (exc.. lease debt) Right-of-use7.4as
Slide 20: Balance Sheet
Balance Sheet £m July 2023 July 2022 Var Fixed and intangible assets 757 644 Goodwill and investments 175 158 Stock 716 805 Debtors / other receivables 1,355 1,318 Other creditors / derivatives (814) (738) Pension surplus 131 191 Dividends payable (168) (157) Net debt (exc. lease debt) (706) (862) 1
Slide 21: Net Debt and Financing | Headroom
Net Debt and Financing | Headroom Jan 2024 Jan 2023 £800m(e) £797m Dividends £248m Share Operational buybacks/ Buybacks H1 £167m cash flow investments £767m(e) £323m(e) Investments £104m Customer Available £52m receivables £29m(e) Capital expenditure £170m(e)
Slide 22: Divisional Analysis: Retail
DIVISIONAL ANALYSIS Retail
Slide 23: Retail | Sales and Profit Analysis
Retail | Sales and Profit Analysis £m July 2023 July 2022 Var Total sales 885 880 + 0.5% Full price sales + 0.9% Like-for-like full price sales + 2.9% Store closures No. of Total turnover stores (VAT inc.) Location not viable 6 £9m Re-development 2 £5m Unacceptable terms 3 £17m Total closed stores 1
Slide 24: Retail | Sales and Profit Analysis
Retail | Sales and Profit Analysis £m July 2023 July 2022 Var Total sales 885 880 + 0.5% Full price sales + 0.9% Like-for-like full price sales + 2.9% Like-for-like FP sales by store type 6% Fashion and Home 4% + 4.9% + 5.1% 2% + 1.8% 0% City centre Regional shopping Retail parks centres
Slide 25: Retail | Sales and Profit Analysis
Retail | Sales and Profit Analysis £m July 2023 July 2022 Var Total sales 885 880 + 0.5% Full price sales + 0.9% Like-for-like full price sales + 2.9% Like-for-like FP sales by store type 6% Fashion only + 5.6% 4% + 5.1% 2% + 3.2% 0% City centre Regional shopping Retail parks centres
Slide 26: Retail | Sales and Profit Analysis
Retail | Sales and Profit Analysis £m July 2023 July 2022 Var Total sales 885 880 + 0.5% Operating profit 101 101 + 0.6% Lease interest charge (17) (19) - 6.1% Operating profit 84 82 + 2.0% inc. lease interest
Slide 27: Retail | Sales and Profit Analysis
Retail | Sales and Profit Analysis £m July 2023 July 2022 Var Total sales 885 880 + 0.5% Operating profit 84 82 inc. lease interest % to sales 9.5% 9.3% Bought-in gross margin + 1.0% Freight as a % of cost of goods * 3% 9% * NEXT products (Retail and Online)
Slide 28: Retail | Sales and Profit Analysis
Retail | Sales and Profit Analysis £m July 2023 July 2022 Var Total sales 885 880 + 0.5% Operating profit 84 82 inc. lease interest % to sales 9.5% 9.3% Bought-in gross margin + 1.0% v LY Markdown & other + 1.3% Surplus stock - 28% Achieved margin + 2.3% Cash recovery* + 5% * Markdown sales divided
Slide 29: Retail | Sales and Profit Analysis
Retail | Sales and Profit Analysis £m July 2023 July 2022 Var Total sales 885 880 + 0.5% Operating profit 84 82 inc. lease interest % to sales 9.5% 9.3% Achieved margin + 2.3% Wage & fuel inflation - 0.4% Payroll - 0.9% Operational efficiencies + 0.3% Warehousing & distribution + 0.1% Higher selling
Slide 30: Retail | Sales and Profit Analysis
Retail | Sales and Profit Analysis £m July 2023 July 2022 Var Total sales 885 880 + 0.5% Operating profit 84 82 inc. lease interest % to sales 9.5% 9.3% Achieved margin + 2.3% Payroll - 0.9% Technology - 0.4% Warehousing & distribution + 0.1% Staff incentives - 0.7% Central costs & staff incentives
Slide 31: Retail | Sales and Profit Analysis
Retail | Sales and Profit Analysis £m July 2023 July 2022 Var Total sales 885 880 + 0.5% Operating profit 84 82 inc. lease interest % to sales 9.5% 9.3% Achieved margin + 2.3% Payroll - 0.9% Warehousing & distribution + 0.1% Energy & other - 1.5% Central costs & staff incentives - 1.4% Fully depreci
Slide 32: Retail | Sales and Profit Analysis
Retail | Sales and Profit Analysis £m July 2023 July 2022 Var Total sales 885 880 + 0.5% Operating profit 84 82 inc. lease interest % to sales 9.5% 9.3% Store occupancy - rent reductions full year 2023/24(e) Number Weighted Occupancy Annualised of stores average term saving cash saving 73 4.2 years
Slide 33: Retail | Sales and Profit Analysis
Retail | Sales and Profit Analysis £m July 2023 July 2022 Var Total sales 885 880 + 0.5% Operating profit 84 82 inc. lease interest % to sales 9.5% 9.3% Retail full year margin 10.6%(e) 11.0% - 0.4%
Slide 34: Divisional Analysis: Online
DIVISIONAL ANALYSIS Online
Slide 35: Online | Sales Analysis
Online | Sales Analysis £m July 2023 July 2022 Var Full Price Total sales 1,498 1,427 + 5.0% + 4.1% Full price sales Total sales + 10.0% + 8.3% + 11.6% + 6.7% + 1.6% - 1.6% Q2 Q1 Q2 Q1
Slide 36: Online | Sales Analysis
Online | Sales Analysis £m July 2023 July 2022 Var Total sales 1,498 1,427 + 5.0% Full price sales 2023 vs 2022 H1 Overseas sales participation 2023 UK total - 0.1% Aggregators 1 year growth Overseas* + 18.0% + 43% 27% Total FP sales + 4.1% 73% 1 year growth + 11% NEXTdirect.com *July Constant 2022
Slide 37: Online | Profit Analysis
Online | Profit Analysis £m July 2023 July 2022 Var Total sales 1,498 1,427 + 5.0% Operating profit 246 221 + 11.1% Lease interest charge (6) (5) + 17.3% Operating profit 240 216 + 11.0% inc. lease interest July 2022 margins have been restated to include the cost of lease interest.
Slide 38: Online | Profit Analysis
Online | Profit Analysis £m July 2023 July 2022 Var Total sales 1,498 1,427 + 5.0% Operating profit 240 216 + 11.0% inc. lease interest % to sales 16.0% 15.1% Lower freight costs + 0.6% Bought-in gross margin + 1.0% Overseas prices net of duty + 0.4% Markdown & clearance + 1.5% Surplus stock v. LY -
Slide 39: Online | Profit Analysis
Online | Profit Analysis £m July 2023 July 2022 Var Total sales 1,498 1,427 + 5.0% Operating profit 240 216 + 11.0% inc. lease interest % to sales 16.0% 15.1% Achieved gross margin + 2.5% Higher selling prices (less parcels) + 1.1% Overseas parcel rates + 0.4% Warehousing & distribution + 0.1% Wage
Slide 40: Online | Margin Analysis by Division
Online | Margin Analysis by Division £m July 2023 July 2022 Var % to sales 16.0% 15.1% + 0.9% Margin by Online division NEXT Brand UK 19.2% 20.5% - 1.3% LABEL UK 13.0% 12.9% + 0.1% Overseas 14.3% 7.3% + 7.0% July 2022 margins have been restated to include the cost of lease interest.
Slide 41: Online | Margin Analysis by Division
Online | Margin Analysis by Division £m July 2023 July 2022 Var % to sales 16.0% 15.1% 0.9% Margin by Online division NEXT Brand UK 19.2% 20.5% - 1.3% LABEL UK 13.0% 12.9% + 0.1% Overseas 14.3% 7.3% + 7.0% Bought-in margin (prices) + 1.4% Markdown + 1.5% Distribution + 4.4% Marketing, technology & o
Slide 42: Online | Margin Analysis by Division
Online | Margin Analysis by Division £m July 2023 July 2022 Var % to sales 16.0% 15.1% + 0.9% Online full year margin 15.5%(e) 15.2% + 0.3% July 2022 margins have been restated to include the cost of lease interest.
Slide 43: Total Platform & Investments
DIVISIONAL ANALYSIS Total Platform & Investments Full Year
Slide 44: Total Platform | Sales Analysis
Total Platform | Sales Analysis £m FY 2023(e) FY 2022 Var Sales on client websites (GTV) 161.8 110.3 + 47% Commission income 33.9 21.2 + 60% Cost plus income 13.1 7.7 + 70% NEXT income 47.0 28.9 + 63% Recharges 7.6 7.6 NEXT income inc. recharges 54.6 36.5 + 49% Excludes discontinued clients. Like-fo
Slide 45: Total Platform | Profit Analysis
Total Platform | Profit Analysis £m FY 2023(e) FY 2022 Var Sales on client websites (GTV) 161.8 110.3 + 47% Commission income 33.9 21.2 Cost plus income 13.1 7.7 NEXT income 47.0 28.9 + 63% Total Platform service profit 10.3 5.4 + 91% Margin % on NEXT income 22.0% 18.7% Excludes discontinued clients
Slide 46: Total Platform | Profit Analysis
Total Platform | Profit Analysis £m FY 2023(e) FY 2022 Var Sales on client websites (GTV) 161.8 110.3 + 47% Commission income 33.9 21.2 Cost plus income 13.1 7.7 NEXT income 47.0 28.9 + 63% Total Platform service profit 10.3 5.4 Margin % on GTV and cost plus income 5.9% 4.6% Excludes discontinued cl
Slide 47: Total Platform | Profit Analysis
Total Platform | Profit Analysis £m FY 2023(e) FY 2022 Var Total Platform service profit 10.3 5.4 Equity profit 17.7 16.8 + 6% Other clients 25.1 19.8 + 27% Joules (7.4) (3.0) Total profit 28.1 22.2 + 26% Total profit exc. brand amortisation 35.8 26.0 + 38% Excludes discontinued clients. Total profi
Slide 48: Total Platform | Profit Analysis
Total Platform | Profit Analysis £m FY 2023(e) FY 2022 Var Total Platform service profit 10.3 5.4 Equity profit 17.7 16.8 + 6% Total profit 28.1 22.2 + 26%
Slide 49: NEXT plc 2023/24 Full Year Outlook
NEXT plc 2023/24 Full Year Outlook
Slide 50: 2023/24(e) Full Year Profit Guidance
2023/24(e) Full Year Profit Guidance 2022/23 £870m Profit from FP sales - £27m Net costs - £48m March est. FP sales - 1.5% Profit £795m 2023/24(e) £795m - 8.7%
Slide 51: 2023/24(e) Full Year Profit Guidance
2023/24(e) Full Year Profit Guidance Sept est. FP sales 2022/23 + 2.6% £870m Profit from FP sales - £27m Net costs - £48m FY 2023/24 + 3.2% FP sales ~ £190m + 4.1% + 2.0% H1 H2(e)
Slide 52: 2023/24(e) Full Year Profit Guidance
2023/24(e) Full Year Profit Guidance Sept est. FP sales 2022/23 + 2.6% £870m Profit from FP sales - £27m Net costs - £48m Net profit from FP sales Margin + £45m 24% • Profit from FP sales + £68m Cost savings • Staff incentives - £23m + £46m • Freight £16m • Warehouse £16m • Markdown £10m • Energy &
Slide 53: 2023/24(e) Full Year Profit Guidance
2023/24(e) Full Year Profit Guidance Sept est. FP sales 2022/23 + 2.6% £870m Profit from FP sales - £27m Net costs - £48m Net profit from FP sales • Cost savings + £46m + £45m • Non-recurring - £16m Net cost savings + £30m Reiss + £5m £875m 2023/24(e)
Slide 54: 2023/24(e) Full Year Profit Guidance
2023/24(e) Full Year Profit Guidance Sept est. FP sales + 2.6% Profit £875m + 0.5% Pre-tax EPS 723.9p + 3.2% Post-tax EPS 552.9p - 3.6%
Slide 55: Our Business Priorities
Our Business Priorities Product Service Costs New business
Slide 56: Better by Design
B E T T E R by D E S I G N N E W N E S S is E V E R Y T H I N G
Slide 57: Brands: Licences, Wholly Owned, Collaborations
LICENCES WHOLLY OWNED BRANDS BRANDS COLLABORATIONS
Slide 58: Service
Product Service Costs New business
Slide 59: Service Levels Under Pressure
Service Levels Under Pressure • More stock in bulk storage • Extending returns queue • Store / depot processing • Label + + 62% Efficient Sales growth capacity Online COVID sales £500m 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24(e)
Slide 60: Service Levels Improving
Service Levels Improving LY TY Var % Customer contacts Items fulfilled from store stock (June) 9% 5% - 44% - 24% Items delivered later than promised (June) 11% 6% - 45% Sale orders delivered > 14 days (July) 24% 3% - 88% Collation - avg. items per parcel (June) 1.94 2.11 + 9%
Slide 61: Costs
Product Service Costs New business Cost of Goods Operating Costs
Slide 62: Cost of Goods
Cost of Goods Like-for-like cost inflation + 8% + 7% + 4% March est. + 3% + 2% + 1% SS21 AW21 SS22 AW22 SS23 AW23(e)
Slide 63: Cost of Goods
Cost of Goods Like-for-like cost inflation + 8% + 7% • Commodities • Energy • Freight + 4% • Factory prices Sept est. + 2% + 2% + 1% + 0.5% SS21 AW21 SS22 AW22 SS23 AW23(e) - 1.0% SS24(e)
Slide 64: Wages
Overall Cost Impact - 2024/25 2023 2024 Cost of Goods Wages
Slide 65: Overall Cost Impact: Wages, Labour market easing
Overall Cost Impact Wages Labour market easing Stores Logistics Technology SS22 9 8 13% SS23 17 11 6% Applicants per vacancy Vacancies
Slide 66: Overall Cost Impact - 2024/25
Overall Cost Impact - 2024/25 Tailwinds 2023 2024 Cost of Goods Wages Warehousing occupancy Technology
Slide 67: Slide 67
Slide 68: This time
This time To Achieve... Not _guidance 20 Profit Flat EP sales + |% Way tes last yeav.. Profit Flat Ln —_S
Slide 69: Vacancies
Vacancies UK Labour Market Source: ONS 1.2m 470k 1m 160k 800k COVID 600k 2019 2020 2021 2022 2023
Slide 70: New business: Total Platform
Product Service Costs New business Total Platform
Slide 71: Total Platform: Faster & Cheaper
Total Platform Technology Faster & Cheaper DEVELOPMENT TIME Launch date Dev. hours Months Joules Oct 2023 20% 4 Made July 2023 24% 4 JoJo Maman Bébé May 2023 36% 8 Reiss Feb 2022 100% 11
Slide 72: Total Enterprise Platform
Total Platform Technology DEVELOPMENT TIME Launch date Dev. hours Months Joules Oct 2023 20% 4 “Necessity is the mother of invention” Total Enterprise Platform
Slide 73: Product Management systems, Finance, Payroll & HR
Product Management systems Finance Payroll & HR Connectivity & comms. Website Warehouse & Distribution Contact centre Retail systems Digital marketing
Slide 74: Contracting, Imports and exports
Contracting Product Management systems Imports and exports Branch allocations Website Warehouse & Distribution Contact centre Retail systems Digital marketing
Slide 75: Finance, Payroll & HR
Management accounts Finance Sales ledger Payroll & HR Accounts payable Cash management Payroll processing Website HR services Warehouse & Distribution Contact centre Retail systems Digital marketing
Slide 76: Connectivity & comms., IT security
Emails Connectivity & comms. IT security Server infrastructure Website Warehouse & Distribution Contact centre Retail systems Digital marketing
Slide 77: TEP and TP savings
Product Management systems Finance TEP savings Payroll & HR > £4m(e)/pa Connectivity & comms. Website Warehouse & Distribution TP savings Contact centre ~£6m(e)/pa Retail systems Digital marketing
Slide 78: Operational synergies, people synergies, better systems
Product Management systems Finance Payroll & HR • Operational synergies Connectivity & comms. Website • People synergies Warehouse & Distribution • Better systems Contact centre Retail systems Digital marketing
Slide 79: Design, Buying, Marketing, HR
Product Management systems Finance Payroll & HR Connectivity & comms. Website Warehouse & Distribution Contact centre Design Buying Marketing HR Retail systems Digital marketing
Slide 80: Downside… corporate lock-in
Product Management systems Finance Payroll & HR Connectivity & comms. Website Downside… corporate lock-in Warehouse & Distribution Contact centre Retail systems Digital marketing
Slide 81: Where does it leave management and partners?
Downside… corporate lock-in Q. A. Where does it leave management and partners? Alternative exit route Management shares with put option • Performance hurdles • Length of service hurdle • Phased - no ‘cliff edge’
Slide 82: Alternative exit route
Alternative exit route Management shares with put option
Slide 83: Alternative exit route
Alternative exit route Management shares with put option
Slide 84: Alternative exit route: Advantages
Alternative exit route Management shares with put option Founders & Advantages PE route to exit • Commensurate with value • Interest rates up • ALWAYS earnings enhancing • PE exits down • Payable in NEXT shares * * Subject to statutory and listing rules
Slide 85: Evolving…
Evolving… Service provider Service provider Service provider Skin in the game M&A tool
Slide 86: Managing the 'Corporate Blob'
Managing the ‘Corporate Blob’ Shared infrastructure Financial clout Expertise Big company infrastructure and resources.
Slide 87: Managing the 'Corporate Blob'
Managing the ‘Corporate Blob’ Shared infrastructure Agility Financial clout Innovation Expertise Motivation Big company infrastructure Small-company common sense, and resources. speed and decision making.
Slide 88: Managing the corporate blob
Managing the corporate blob Product Management systems Finance Management • Share data risk / reward Payroll & HR structure • Impose supplier base Connectivity & comms. • Impose quality standards Website Warehouse & Distribution • Impose people Contact centre • Impose culture Retail systems Digital
Slide 89: NEXT brand platform
BRAND BRAND BRAND BRAND BRAND BRAND BRAND BRAND BRAND BRAND NEXT BRAND BRAND Product Management systems Finance Payroll & HR Connectivity & comms. Website Warehouse & Distribution Contact centre Retail systems Digital marketing
Slide 90: Slide 90