Next has passed a turning point, says Deutsche Bank, but slashes target price
The retailer’s increasingly medium-term stance is something that should pique the interests of investors, analysts said
Company
Next PLC
LON:NXT
Next plc is a United Kingdom-based retailer offering products in clothing, footwear, accessories and home products
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Next lowers guidance but should be able to navigate tricky year, say analysts
Predicting performance for the next nine months is extremely difficult
Next lowers profit and sales guidance as war in Ukraine weighs
War in Ukraine has added further uncertainty for the fashion retailer
FTSE 100 ends higher as oil stocks power gains
London retains crown of Europe's top financial hub
Next, Bridgepoint and CVS on Thursday's agenda as results tide slows
After the deluge in recent weeks the results flow starts to ease a little on Thursday
Next results: will inflation and dividend guidance come in a smaller or larger size?
The clothing retailer raised wages by an average of 5.4% last year and responded with price hikes in its shops of 3.7% last spring/summer and 6% for the autumn/winter collection
Next cuts sick pay for unvaccinated staff who must self-isolate - report
The move comes amid soaring levels of worker absences due to the rapid spread of the Omicron variant of coronavirus
Next pays dividends for those who kept the faith
Next does two things exceptionally well. It sells things and it manages the market's expectations.
Next lifts guidance after strong pre-Christmas trading but warns of rising inflation
The company announced another special dividend, this time of 160p per share, compared to September's 110p payout
2022 financial calendar kicks off with Next PLC and US jobs report this week
US economic data will bring thoughts back to interest rate hikes and how many we will see in 2022
Next leaves profit forecast intact after strong update; gives a nod to inflationary threat
“Although consumer finances are in good shape, price increases in essential goods (such as fuel) may moderate demand for more discretionary purchases,” the clothing retailer cautioned
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Next interims to be Wednesday’s focus, Trainline also eyed
Coca Cola HBC and Smurfit Kappa are also due to release updates
Next stuns with trading update but demands easier immigration rules to help with labour shortage
Chief executive Simon Wolfson, a Conservative peer and ardent Brexit supporter, is asking for government action
Next upgrades guidance yet again as sales top expectations
The retailer expects growth to slow down over the coming months
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Next and SSP Group to update investors mid-week
In terms of macro releases, Wednesday comes with UK and US housing figures in terms of mortgage lending and approvals
Next to run Gap’s business in UK and Ireland
Gap announced earlier this year that it will close its 81 stores in the two countries
Next on the back foot in its legal set-to with shop workers
More than 400 Next shop workers, the vast majority of them women, are seeking equal pay rates to workers in the retailer's distribution centres
Next sparks flurry of upgrades with storming update
UBS said investors had expected a special dividend but the magnitude was a pleasant surprise
Next sales smash expectations as shoppers return in droves
Shareholders will also get £240mln in special dividends
Keep your eyes peeled for Next, Kingfisher dividend news says RBC
Cash returns have historically been a key component of shareholders in the retail sector and they are about to be back
UK retail industry to lose £8bn in profits as COVID-19 accelerates shift to online shopping
Europe’s e-commerce landscape is undergoing significant structural change, according to researchers at Alvarez & Marsal Inc. and Retail Economics
Next raises profit forecasts after once again beating trading expectations
The retailer has enjoyed pent-up demand over the past few weeks
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FTSE 100 holds on to slight gains; Wall Street digests positive jobless claims data
The UK blue chip index closed higher after positive economic news
Next, Barratt Developments, Trainline set for Thursday’s spotlight
It is set to be an active Thursday for trading updates/
Peacocks rescue deal agreed
A management buy-out backed by Dubai-based investors has been agreed
Next rules out further closures this year, upgrades full-year guidance
The central case scenario was revised upwards following strong performance recently
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FTSE 100 ends positive ahead of long Easter weekend, while Wall Street lifted by strong manufacturing figures
The UK blue chip index closed in the green and Dow is moveing higher after survey showed ten months of growth from US factories
What businesses want from Wednesday’s Budget
Several sectors have demanded specific measures that will help them survive the pandemic
Next scraps Topshop buyout offer
It is understood that Chinese online platform Shein is now the frontrunner to acquire Topshop with a £300mln offer
Next frontrunner to snap up collapsed Topshop owner Arcadia
Mike Ashley’s Frasers Group and Barneys department store owner Authentic Brands, which planned to make a joint effort with JD Sports, are also bidding
Next down to neutral as UBS says limited upside following profit upgrade
Despite the rating change, the bank also hiked its target price for the retailer to 8,100p from 6,550p, although added that there is now “less scope for further re-rating and upwards earnings revisions” over the next 12 months
Next a ‘buy’ again for Liberum over potential to outperform competitors
The broker reinstated the target price of 8,300p after “very resilient Christmas trading which beat expectations”
Next hardly seems to have put a foot wrong in 30 years
The company has had a succession of visionary leaders and in the current century at least has made a habit of under-promising and over-delivering
Next makes small upgrade to full-year profit expectations but store closures bite
Profit gained in the past few weeks has been almost entirely offset by the anticipated loss of upcoming January closures and the additional costs of clearing stock online
Next and supermarkets to report on disrupted Christmas trading
There will be a supermarket industry spending report from Kantar, plus an individual update scheduled from Morrison's
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FTSE 100 continues its breakout as lockdowns loom; US markets take a dive
The prime minister is expected to announce tougher restrictions at 8.00pm tonight, with many people expecting England to go into full lockdown.
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Retail trading updates eyed in first week of 2021 as coronavirus lockdowns roll-on
The macro calendar will return with a selection of UK and US PMI readings as well as the all-important US non-farm payrolls data on Friday, January 8
Next upgrades profit forecasts as third quarter sales come in better than expected
Sales in the quarter had been boosted by a strong performance in the clothing retailer's online division, which offset declines from its retail stores
Barclays starts Next with ‘overweight’ rating citing online offer progress
The group's UK stores are expected to contribute just 31% of sales and 14% of underlying earnings by calendar 2022 as the growth of online sales dominates
Chancellor's Winter Economy Programme not enough say critics
More than one in ten UK workers currently are being supported by furloughing
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Next to adopt “slightly more adventurous” styles as it gears up for changes in consumer behaviour
“I don’t think people will walk into Next and see a completely different Next and be shocked by it," said chief executive Simon Wolfson
Next shares downgraded as broker sees valuation as up with events
The retailer's shares have “had a decent run”, the analysts said
Next tumbles to loss but says online shopping habits are sticking
Even in its worst forward guidance scenarios for the year, the group is expected to generate profits and cash and cut debt
Next plans better warehouse capacity, expects full-year profit
Profit before tax could be as much as £330mln or as little as £15mln based on three scenarios
Next shares knocked as Goldman Sachs downgrades rating to ‘sell’ from ‘neutral’
“Post COVD-19 disruption, we expect the Next UK brand return to a yoy decline, driving Next brand UK EBIT down to <£200mn in FY25E (from FY20E £412 mn),” Goldman's analysts said
Shop owners see long queues on reopening but wonder if rush can be sustained
Shopping will be a very different experience from three months ago
The big challenge ahead for shops and pubs as coronavirus restrictions ease
If non-essential businesses are allowed to open over the next months, they will have to adopt measures to make customers feel safe
Next sales could slump by 40% due to coronavirus pandemic
The fashion retailer has been ramping up its operations and implementing cost-saving plans, including the sale of its headquarters
Fashion retailers to see "very painful" summer clearance as stock must go
Demand is at a historical low but summer ranges are still piled up in warehouses
Next restarts online sales ‘in a very limited way’ due to coronavirus safety measures
“The idea is to begin selling in low volumes, so that we only need a small number of colleagues in each warehouse at any one time, helping to ensure rigorous social distancing is complied with”
Sir Philip Green’s Arcadia Group requests taxpayer help to pay staff amid coronavirus pandemic
With its 550 stores closed due to the UK's lockdown, the Topshop owner has been forced to furlough 14,500 of its workers
Next forced to sell HQ and warehouses to survive coronavirus pandemic
Wolfson said Next “could sustain” the loss of 25% of annual sales, if the coronavirus lockdown was sustained for several weeks
Next closes online operations to let all workers isolate
The retailer said workers in the warehousing and distribution operations “increasingly feel they should be at home in the current climate”
Next “could sustain the loss” of 25% annual sales, delays dividend
Management have identified a series of measures assuming the pandemic lasts from two to 24 weeks
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FTSE 100 closes higher as traders buoyed by BoE stimulus measures
Britain's blue-chip benchmark closed up around 71 points at 5,151, while FTSE 250 fell over 178 points at 12,829
Fed meeting and retailers in focus but coronavirus will overshadow week ahead
Company updates on the calendar for the coming week include Antofagasta, Ferguson, Gym Group, JD Wetherspoon, Next, Morrisons and Ocado
Next gets lift as Citi upgrades to ‘neutral', believes retailer relatively well placed to cope with coronavirus impact
Citi’s analysts said: “The shares have sold off c.40% since the coronavirus newsflow started and we believe this is excessive”
Next downgraded by HSBC after revising up profit forecast
The bank downgraded the stock to ‘hold’ from ‘buy’ and slashed the target price to 7,050p from 7,300p after reducing future estimates
Next analysts disagree over value of shares
Berenberg raised its price target, UBS kept the 'buy' recommendation, SocGen downgraded the stock to ‘sell’
Next’s Christmas performance lauded by analysts, but outlook for retail sector still uncertain
Multiple analysts said the retailer had delivered a robust set of figures despite tough conditions, however, they were unsure whether its peers would fare as well
Next hikes full year profit guidance as Christmas trading beats forecasts
The clothing retailer said full price sales in the festive period had risen 5.2%, with double-digit growth in its online division offsetting declines in its stores
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FTSE 100 index rises but other markets fall as oil surges amid US/ Iran tensions
FTSE added over 18 points on the day to close at 7,622, while the FTSE 250 plunged over 120 points to 21,988.
Friday to see start of post-Christmas trading updates as Next reports
The first Friday of 2020 will see the clothing chain kick off the traditional round of trading updates from the UK's retailers following the crucial festive trading season
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Christmas done, New Year to come; then the retailers can disclose all, starting with Next
The focus will be back on the gifts that keep giving – the state of the UK high street, and the health of the US economy
Retail “offers big money making opportunities” says RBC, but not Next
RBC published a 97-page “industry primer” covering the €1trn European general retail sector
Next’s valuation “now up with events” says Liberum as it downgrades following share price surge
The broker lowered its rating for the retailer to 'hold' from 'buy' on valuation grounds following a 64% jump in the shares since January
Next shabbier despite solid update, warm weather dents September sales
In an update for its third quarter, the clothing retailer reported that total full-price sales had risen 1.6% in the period as 9.7% growth in its online division offset a 6.3% slump for its high street stores
Next shares strut lower as it maintains full-year guidance
Next usually underpromises and over-delivers so investors were left disappointed by the absence of an upgrade to its forecasts
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Bank of England likely to sit tight, Next weathering the storm
Next recently upgraded its full-year forecasts after a 3.8% rise in first-half sales
Next, JD Sports and ASOS will gain from next retail shift
Credit Suisse says: “when demand is increasingly driven by online/social media engagement, rather than footfall, we see consumers increasingly favouring smaller brands and multi-brand distribution”
Investments and investor services
FTSE 100 closes in the red as traders await first US rate cut since recession
Investors are expecting a cut of 0.25% in the benchmark short-term rate
Archive
Lloyds to post weaker profits as PPI claims deadline looms
The day ahead includes interims from Lloyds and Taylor Wimpey along with the Federal Reserve's latest policy decision
Investments and investor services
FTSE 100 romps to higher close as Just Eat delivers 22% share gain
Just Eat is poised to combine with Dutch rival Takeaway.com to form one of the world's largest food delivery firms
Investments and investor services
FTSE 100 closes a shade lower as markets uninspired; US celebrates Independence Day holiday
The Footsie finished down nearly six points at 7,603
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Will poor weather have knocked sales at AB Foods clothing stores flagship Primark?
Aside from the AB Foods update, investors will also be eyeing updates from builders Persimmon and MJ Gleeson, while US markets will be shut for Independence Day
Investments and investor services
FTSE 100 closes firmly higher as Wall Street shares head north; sterling slides
The UK benchmark index closed over 56 points higher, at 7,353, aided by the fall in the pound
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Burberry and Thomas Cook in the spotlight; ex-divs to take 26 points off the FTSE 100
Numbers from Countryside Properties, National Grid, and Wincanton will also be among Thursday's highlights.
If you can’t beat them, join them: Next partners with Amazon
Amazon has been a thorn in the side of bricks-and-mortar retailers for years, but the ecommerce giant’s customers will now be able to go into Next stores to pick up their parcels
Purplebricks isn’t the first UK company to fail to crack overseas markets, and it won’t be the last
Overseas markets, particularly the US, have proved tough for UK companies to crack, just ask Tesco, Next, Sainsbury’s and many others…
Easter Bunny delivers for Next, but retailer stops short of lifting guidance
Total sales grew by a better-than-expected 4.5% in the opening three months of 2019, and Next put the outperformance down to the warm weather over the Easter holiday period
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FTSE 100 closes firmly lower as investors shun risk and amid Brexit deal chatter
The UK's premier share index finished down nearly 33 points at 7,385
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Will Next spring a surprise in Wednesday’s first-quarter trading update?
There’s a lot for investors to get their teeth into on Wednesday, with Sainsbury’s, GSK and Persimmon among the slew of companies reporting alongside Next
FTSE 100 closes higher after US inflation data
It comes after latest data showed that core inflation in the US was flat last month (March) while consumer spending rose
Archive
FTSE 100 closes in the red as resource stocks come off the boil
After hitting a six-month high on Tuesday afternoon, London's blue-chips took a step back on Wednesday
Next, M&S, Kingfisher, WH Smith and Dunelm shares to benefit from improved retail outlook, says RBC
RBC’s preferred stocks are Next and Primark owner Associated British Foods
Next set for first-quarter sales surge thanks to milder weather, says Jefferies
With much wilder weather in the opening three months of 2019 compared with the same period last year, Jefferies is looking for Next to deliver first-quarter sales growth of 3.7% in next month’s update
Next shrugs off Brexit fears but outlook for troubled retail market remains uncertain
“The difference between the fortunes of stores and online is becoming increasingly marked,” said Richard Hunter, head of markets at Interactive Investors
Next confirms 2019 profit decline as it tackles challenging retail market
"No one knows what the High Street will look like in ten years, but one thing is certain: The people walking down it will be wearing clothes,” chief executive Lord Wolfson said
Archive
FTSE 100 closes higher at traders focus on Federal Reserve's dovish tone
The FTSE 250 though, seen as a better indicator of the state of UK companies, closed down around 41 points at 19,347.
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Clothes retailers Next and Ted Baker in the spotlight on Thursday
Not much excitement is expected from the Bank of England, so investor attention will instead be on two of the UK’s troubled clothes retailers: Ted Baker and Next
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Whatever the UK government no-confidence vote outcome, investors will have plenty to chew over on Thursday
The Day Ahead will bring updates from the likes of Primark-owner Associated British Foods, a caffeine-free Whitbread, credit checker Experian, and software firm Sage
How JD Sports bucked the high street doom and gloom once again
Analysts reckon it’s a combination of factors, although most of thing come back to the same thing: JD sells things that today’s youth want to buy
Next weak as Credit Suisse cuts stance to ‘underperform’ from ‘neutral’ following recent trading update
Credit Suisse’s analysts noted that Next is expecting a gradual decline in margins which is likely to accelerate in future years as currency factors turn negative
Investments and investor services
FTSE 100 closes lower as Chinese data and Brexit weighs
Footsie closed down over 63 points at 6,855 on the day
Archive
Brexit, UK inflation the main focus but retail and housebuilder updates continue to flow
Aside from the Brexit merry-go-round, the Week Ahead will bring UK inflation and retail sales numbers, plus updates from the likes of AB Foods, Persimmon, Bovis Homes, and Whitbread
Tesco, Next and Ted Baker among the festive winners as high street survives Christmas - but only just
Below we provide a cut-out-and-keep guide to the major quoted retailers and how the quoted retailers performed
Next gains as HSBC repeats ‘buy’, says market undervalues retailer’s “relative strategic advantages”
HSBC's analysts pointed out that the market is applying little or no value to Next’s Retail operations, albeit which is consistent with management’s long-range Store Stress Test
Morrisons to slash prices as German discounter Aldi reports record Christmas
Aldi sold almost £1bn worth of food and drink in the run-up to the holiday season, and Morrisons has responded by slashing the prices of more than 900 products
Slug and Lettuce owner Stonegate Pub Company posts strong sales growth over key Christmas period
The private equity-owned firm, which has a portfolio of more than 700 pubs, bars and late night venues, saw its sales rise 12% higher year-on-year in the two weeks to 1 January 2019