Overview

• Next reported an 11.4% year-on-year increase in full-price sales for the 13 weeks ending April 26, surpassing internal forecasts by £55 million.
• The company raised its pre-tax profit guidance by £14 million to £1.08 billion for the 2024/25 financial year following strong Q1 results.
• Warm spring weather drove early summer clothing purchases, boosting sales in physical stores and contributing to the quarterly overperformance.
• Online sales grew significantly, with an 8.9% increase in the UK and a 29.6% rise in international markets during the first quarter.
• Next cautioned that the second half of the year is expected to see slower sales growth due to the impact of April's National Insurance increases and demand pulled forward from later quarters.