Company Earnings Update 2 minutesRegister for Free AccessNext (LON:NXT)1H17 Results: Very Weak Retail Sales and Further Profit Decline Coresight Research September 15, 2017 Executive Summary British fashion retailer Next reported £1,888 million in group revenues in 1H17, down 2.7% year over year and above the consensus estimate. Retail store sales declined 8.3% year over year, reflecting significant sales erosion. Operating profit margin in 1H17 contracted by 140 basis points to 17.2% year over year. Diluted EPS for 1H17 was 177 pence, down 5.7% year over year and above the consensus estimate of 165 pence. For FY17, the company expects total full-price sales growth to be between (2.0)% and +1.5%. Next looks for FY17 profit before tax (PBT) in the range of £687–£747 million, for year-over-year growth to fall to between (13.1)% and (5.5)%. FY17 EPS growth is expected to decline to between (10.9)% and (3.1)%. Please Login to read the full report. Not a member? Register for a free user account. This document was generated for Other research you may be interested in: Analyst Corner: Retail Innovation in China, with Anand Kumar—Three Opportunities for Brands and RetailersSeasonal Shopping, 1Q24—Expectations for Valentine’s Day, Easter and Presidents’ Day: US Consumer Survey Insights ExtraShoptalk 2023 Day One: Innovation Leads the WayEarnings Insights 3Q23, Week 5: Burlington and Urban Outfitters Report Solid Results; Kohl’s, Lowe’s and Others See Sales Decline
