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(Sharecast News) - Retailer Next raised its full-year sales and pre-tax profit guidance on Wednesday as it revealed full price sales had risen 10.5% year-on-year in the thirteen weeks ended 25 October, ahead of guidance for a more modest 4.5% increase.
UK sales were up 5.4%, lower than the 7.6% growth achieved in the first half, but ahead of guidance of a softer 1.9% increase, while overseas sales rose 38.8%, ahead of 28.1% in H1 and materially better than its guidance of 19.4%.
Next increased its guidance for fourth-quarter full price sales from 4.5% to 7.0%, adding a further 36m of full price sales to its forecast, while FY full price sales were now expected to hit 5.55bn, representing a 9.7% increase year-on-year.
As a result of the improved third-quarter sales performance, along with its improved sales guidance for Q4, Next also raised its FY pre-tax profit guidance by 30m to 1.13bn.
Next now anticipates generating 425m of surplus cash in FY25/26 and intends to return remaining surplus cash by way of a special dividend at the end of January 2026, which would be roughly 3.10 per share.
Reporting by Iain Gilbert at Sharecast.com
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