FTSE 100: Next shares climb on improved outlook
Despite what many are warning will be a difficult winter for consumers, FTSE 100-listed retailer Next plc has raised its outlook for the full-year.
(Video Transcript)
Next Q3 numbers
The High Street retailer Next PLC has published a third quarter (Q3) trading statement today, and in it it's announced an improved forecast for full-year (FY) pretax profits up 2.1% to £840 million.
Let's take a look at the numbers in that update this morning. The FTSE 100-listed business said that full price sales were up 0.4% compared to this time last year. That was slightly ahead of expectations, but broken down, the online sales were down 0.3%, while its sales for its shops rose 3.1%.
The sales increase was given a lift by one strong week, according to the company, at the end of September, when temperatures dropped and sales of autumn clothing started to climb.
Next share price
Let's take a look at the share price reaction. At one point this morning, it was the best performer from the FTSE 100. You can quite clearly see this rise that we've got in the markets here at the moment. The stock is now up 2.5%.
Now, the big question is, can this positivity continue? If it does, when we get a candle close beyond the 5195, which is the level of resistance just above it.
The next line to watch out for is then this line up here, which was the low point we had back in June this year at 5575, that's a long way off. But the company will have to continue to impress analysts with further publication of good results over the all-important Christmas and New Year period I think, to sustain the share price at these sort of levels.
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