Next (LSE: NXT) FY19 Results: Higher SG&A Cost Weighs on Operating Margin; Sees No Impact from Current Brexit Uncertainty

Executive Summary

• Next reported FY19 total sales of £4,167.4 million, up 1.9% year over year, and in-line with the consensus estimate recorded by StreetAccount.
• The company reported diluted EPS of £4.33, up 4.1% year over year, but marginally below the consensus of £4.34 recorded by StreetAccount.
• For fiscal 2020, the company guided total full price sales to increase 1.7% year over year and expects EPS to grow 3.6% year over year to £4.49.