Next sales down 3.9%
Last updated 11:40, Thursday, 08 May 2008
NEXT, the clothing and housewares retailer, announced first quarter results this morning which reflected the current weak consumer spending.
Sales during the first quarter dropped 3.9 per cent compared to the same period the year before. The company stated that its internal forecasts are closely in line with market consensus but warned that it remained cautious in its outlook. Shares rose 42p to 1270p in early trading.
Unilever, which owns brands such as Dove, PG Tips and Vaseline, also announced first quarter figures today after which shares rose 4.27 per cent to 1733p as sales and operating margins increased more than analysts’ expectations.
