Next plc reports H1 FY20 revenue of £1,290 million


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Next plc, a British multinational clothing, footwear and home products retailer, reported revenue decline to £1,290.1 million during the first half (H1) of fiscal 2020 ended on July 25, compared to the revenue of £2,014.5 million in the same period previous fiscal. Company incurred a loss before taxation of £16.5 million (H1 FY19: £327.4 million). 

 

During H1 FY20, total online sales were down 14 per cent to £862.6 million (£1,004.9 million). Whereas, retail sales plunged 61 per cent to £344.6 million (£874.3 million).

 

Gross profit for the reported period decreased to £371.5 million (£764.9 million). Operating profit was £34.1 million (£380.8 million). 

 

Company stated that it expects to close 13 mainline stores this year, one less closure than it forecasted in March.

Fibre2Fashion News Desk (JL)


Next plc, a British multinational clothing, footwear and home products retailer, reported revenue decline to £1,290.1 million during the first half (H1) of fiscal 2020 ended on July 25, 2020, compared to the revenue of £2,014.5 million in the same period previous fiscal. Company incurred a loss before taxation of £16.5 million (H1 FY19: £327.4 million).





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