Fashion retailer Next posts drop in profit – MarketWatch

LONDON--U.Okay. trend retailer Next PLC (NXT.LN) Thursday reported a fall in full-12 months internet profit and mentioned it stays extraordinarily cautious for it its present monetary 12 months as customers spend a decrease proportion of their revenue on clothes.

Next, which operates greater than 500 shops in the U.Okay. and Eire and one other 200 in different nations, mentioned internet profit for the fiscal 12 months ended January 28 fell to 635.three million kilos ($794. million) from GBP666.eight million the earlier 12 months, as income dropped to GBP4. billion from GBP4.18 billion.

The ultimate dividend is maintained at 105 pence.

Pretax profit totaled GBP790.2 million, in line with the corporate's prediction in the vary of GBP785 million to GBP825 million.

Next maintained the steerage for the present 12 months it issued in January.

Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter: @RoryGallivan

Let's spread the love!