Next and JD Sports shares higher as both report earnings updates
Next’s shares rose about 2% after the company raised its full-year profit forecast again after reporting a 4.8% rise in pre-tax profit. It now sees full year pre-tax profit at £875 million, £30m more than its previous estimate.
On last year, total sales were also up, by 5.4%, with online continuing to demonstrate its importance. Meanwhile, JD Sports shares are up 6.62% this morning after the fashion retailer also shared an earnings update. The company said it is on track to post higher annual profit. Adjusted operating profit came in at £398.4m, and underlying sales rose 12%. IGTV’s Angela Barnes has more.
Next
Next , a UK-based company, recently announced some great news for its investors. Their profits for the full year are expected to be even higher than previously estimated, and as a result, their stock price has gone up by around 2%. This means that the company's pre-tax profits are forecasted to reach a whopping £875 million, which is £30 million more than what they initially predicted. Plus, their total sales for the year have also increased by 5.4%, thanks to the continuous growth of their online sales. In fact, Nex's share price has already jumped by an impressive 20% since the beginning of the year.
JD Sports
Another UK company, JD Sports, has also made some exciting announcements. Because of this, their stock price has skyrocketed by 6.54%. This fashion retailer proudly declared that they are well on their way to achieving higher annual profits. Not only did they report an adjusted operating profit of £398.4 million, but their underlying sales also saw a remarkable 12% increase. To make things even better, JD Sports has decided to increase their interim dividend, bringing it back to levels seen before the pandemic hit.
Overall, both Nex and JD Sports have delivered some very positive updates to their investors. Nex, with its improved profit forecast and impressive sales growth (especially online), has managed to give its stock price a significant boost. Similarly, JD Sports has successfully increased its operating profit, seen a surge in sales, and even restored its dividend levels to what they were before the pandemic. As a result, investor confidence in both companies has strengthened substantially.
Next and JD Sports sales
To put it simply, Nex and JD Sports have both given their investors reasons to be happy. Nex's profits are expected to be even better than anticipated, and thanks to their strong online sales, their stock price has gone up by 20%. JD Sports, on the other hand, has achieved higher profits, increased sales, and reinstated their dividend, signaling a return to normalcy. All of this has made investors feel really good about the future of these companies.
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