NEXT up on results and pandemic resilience outline

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NEXT up on results and pandemic resilience outline
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Master Investor Magazine

Master Investor Magazine 60

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Shares in FTSE 100 clothing company NEXT (LON:NXT) climbed 4.10% to 4,008p (as of 15:10 GMT) as group sales for the year ended January rose by 3.3% following a strong online performance. Statutory pre-tax profits improved by 2%, but management warned of a downturn in demand due to the current unusual market conditions.

Management said that the business would be able to sustain the loss of 25% of turnover using its current facilities, excluding any government provided loans or wage support during closures.

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