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Next plc says its pre-tax profit slumped to £342 million in fiscal 2021.

The British multinational retailer reports £3.28 billion of revenue. Nexts dividend and share repurchase programme remains suspended. Next plc (LON: NXT) said on Thursday that its pre-tax profit posted a significant decline in fiscal 2021 due to the ongoing Coronavirus pandemic that pushed its stores into temporarily shutting down. The company, however, expressed confidence that performance will recover considerably in fiscal 2022. Next plc jumped more than 2% in premarket trading on Thursday....
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Source: invezz.com

Next calls for landlords to remain 'pragmatic' on rents

  British fashion retailer Next said it will retain stores as long as landlords continue to be pragmatic on the rents they charge. The fashion chain said profits for the last year were slashed by more than half after its stores were shut for large parts of it. However, the group also raised its profit forecast for the current year, as it hailed soaring online sales in the past eight weeks. “As they have been so far, if landlords continue to be as pragmatic in determining rents going forw...
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Next's Lord Wolfson: 'We don't want to be a retail conglomerate'

Next’s Lord Wolfson: ‘We don’t want to be a retail conglomerate’ Next CEO Lord Wolfson has likened the retailer to a venture capitalist, as it snapped up a minority stake in Reiss and builds on its Total Platform marketplace. Earlier this month, Next revealed that it will acquire a 25% equity stake in Reiss, valued at around £200m, as part of a new, long-term, strategic partnership. Reiss will transition its online platform, warehouse, distribution and logistics to the Next "Total Pl...
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