Consumer boom boost for Next.
FASHION retailer Next shrugged off recession fears with a surge in half-year results boosted by the consumer boom.During the six months to July, the Leicester-based chain which Scouser George Davies started, saw like-for-like sales increase by 10% as shoppers snapped up its clothes, accessories and homeware products.
The spark in sales helped push turnover up to pounds 794.3m compared with pounds 685.1m in the same period last year, with improvements in both retail and directory income.
Half-year profits rose to pounds 93m from pounds 80.7m.
The results are the first set of figures to be published since 33-year-old Simon Wolfson took over as chief executive in August.
The chain is currently expanding after snapping up seven former C&A stores, including the one in Church Street, Liverpool.
Many new jobs are expected to be created at the five-floor store when it opens this year.
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| Title Annotation: | Business |
|---|---|
| Publication: | Liverpool Echo (Liverpool, England) |
| Date: | Sep 11, 2001 |
| Words: | 148 |
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| We have never had it so good. |