High street fashion chain Next has reported a continued growth in sales - although there has been a dip in online shopping as customers returned to stores. Total full price sales in the 13 weeks to the end of April increased by 21.3 per cent on the same period a year ago, although online sales dipped by 11 per cent.
The fall in online sales compared to 12 months ago was blamed lockdown measures when stores were shut to customers last year. Store sales jumped 285 per cent on the same period a year ago as a result, Next said.
However, when compared on a three-year basis – the last period before Covid hit – store sales remain down by eight per cent. Bosses said indications for the high street operation remain in good shape for the rest of the year and did not downgrade forecasts as a result of further inflationary pressures.
Chief executive Lord Simon Wolfson said in March that the company is expecting to increase prices by an average of 3.7 per cent over the half-year to July. He said pricing is expected to rise by an average of eight per cent in the following six-month period, with fashion set for a 6.5 per cent increase.
But there were no further suggestions that prices would rise any higher. The company had earlier warned it would take an £85 million hit in sales by shutting its operations in Russia and Ukraine, knocking profits by £18 million for the year.
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