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05 May 2022, Mumbai:

NEXT: Trading Statement – 5 May 2022

ALSO READ British Fashion Council (BFC)/VOGUE DESIGNER FASHION FUND 2022

HEADLINES

● In the thirteen weeks to 30 April, full-price sales1 were up +21.3% versus last year, in line with our guidance for this period.

● We are maintaining our guidance for full-year profit before tax at £850m, which would be up +3.3% versus last year. Guidance for Earnings Per Share of 557.3p would be up +5.0% versus last year.

FULL-PRICE SALES PERFORMANCE BY BUSINESS CHANNEL

Full-price sales versus last year are set out below

Last year, most of our Retail stores were shut for the majority of the first quarter, which is why Retail growth is so strong at +285%.

Conversely, last year Online sales were boosted by Retail closures, which is why we planned Online sales to be down in the first quarter against last year.

Online sales three years ago remained strong and were up +47% versus 2019/20.

The three-year growth of +19.5% is the equivalent of a compound annual growth rate (CAGR) of +6.1%.

RELEVANT NEWS AS BREXIT IMPACTS MARGINS, BRITISH BRANDS EYE GERMANY FOR EXPANSION

SECOND QUARTER TRADING STATEMENT

Our next sales update will cover the first 26 weeks of the year to 30 July 2022 and is scheduled for Thursday 4 August 2022.

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CREDITS: Nextplc, UK (The news article has not been edited by DFU Publications staff).