Next to build on success of home store format

Next is to step up the rollout of its home stores, the retailer said as it announced an encouraging set of full-year results.

Next to build on success of home store format

The retailer halted four years of sales declines and achieved an 18% rise in pre-tax profits to £505m in the year to the end of January.

Chairman John Barton put the results down to better-than-expected consumer spending and improved product ranges.

“The efforts of our buying teams and the support of our suppliers have helped us hold prices and increase revenues. In addition, the strengths which I outlined in my statement last year, particularly the strength of our management team, have enabled us to contain costs, improve our products and continue to invest in our business.”

He said that Next would continue to expand its store portfolio, “particularly our new home stores which have proved to be a great success this year”.

The retailer has also revamped its UK website and is now trading online in 35 countries outside the UK.

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